Acreage Decisions When Risk Preferences Vary
Carlos Arnade and
Joseph Cooper ()
No 61005, 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado from Agricultural and Applied Economics Association
This poster summarizes work on developing a direct and indirect risk preference function to represent producers who make acreage decisions. Risk is depicted as a constraint which producers face when making acreage decisions. A dual to the acreage decision problem is set up and used to obtain a indirect risk function. Derivative properties of the function are used to specify acreage equations. Sample acreage equations are estimated, using county level data for corn, wheat, and soybeans producers.
Keywords: Crop Production/Industries; Risk and Uncertainty (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea10:61005
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