DETERMINING OPTIMAL FERTILIZATION RATES UNDER VARIABLE WEATHER AND PRICE-CONDITIONS: AN EXTENSION
C. Robert Taylor and
No 283955, 1978 Annual Meeting, August 6-9, Blacksburg, Virginia from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
This paper presents a theoretical framework for determining optimal fertilization rates under risk aversion. Three sources of risk were incorporated into the model: (a) the influence of weather; (b) uncertainty about the coefficient of the response function; and (c) product price variability. The model is applied to grain sorghum in the Texas Blackland Prairie.
Keywords: Demand and Price Analysis; Resource /Energy Economics and Policy (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea78:283955
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