A PORTFOLIO OF NUTRIENTS: SOIL AND SUSTAINABILITY
Craig A. Bond and
Y. Hossein Farzin ()
No 20035, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
This paper develops a basic dynamic economic model that can be used for theoretical and numerical analysis of optimal soil management practices. A dynamic biophysical/economic optimal control model is developed in a multi-disciplinary framework, treating soil as a multi-pool portfolio of a particular limiting mobile nutrient (e.g. nitrogen). This specification allows for fertilizer to directly enter the active pool, while tillage initially affects the decadal pool, reflecting the realities of agricultural production. We examine the properties of the steady-state and the time paths of the optimal solutions. In addition, alternative sustainability criteria of farm-level agricultural practices are presented, and the optimal solution of the problem is evaluated to determine if it meets any or all of the definitions of sustainability.
Keywords: Farm; Management (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20035
Access Statistics for this paper
More papers in 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().