Factor Input Demand Subject to Economic and Environmental Risk: The Case of Nitrogen Fertilizer in Corn Production

Gordon L. Carriker

No 118154, Staff Papers from Kansas State University, Department of Agricultural Economics

Abstract: Nitrogen (N) fertilizer demand in relation to economic and environmental risks associated with N-fertilizer management are examined. Both nominal and environmental damage-adjusted net returns distributions are evaluated using stochastic dominance analysis. Results suggest that, in the absence of environmental risk, N demand becomes more elastic as farmers become more risk averse. When environmental risk is introduced to the decision-making process, N demand becomes even more elastic.

Keywords: Crop Production/Industries; Environmental Economics and Policy (search for similar items in EconPapers)
Pages: 26
Date: 1993-12
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ksaesp:118154

DOI: 10.22004/ag.econ.118154

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