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RESEARCH IN AGRICULTURAL ECONOMICS--IS ANYONE LISTENING? DISCUSSION AgEcon
Richardson, James W..
Tipo: Journal Article Palavras-chave: Research and Development/Tech Change/Emerging Technologies.
Ano: 1994 URL: http://purl.umn.edu/15406
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Risk Assessment in Economic Feasibility Analysis: The Case of Ethanol Production in Texas AgEcon
Richardson, James W.; Herbst, Brian K.; Outlaw, Joe L.; Anderson, David P.; Klose, Steven L.; Gill, Robert Chope, II.
The objective of this study is to demonstrate the benefits of quantifying the economic viability of a proposed agribusiness under risk relative to a feasibility study which ignores risk. To achieve this objective, the economic viability of a 50 MMGPY ethanol facility in Texas is analyzed over a 10-year period in two ways: with no risk and with historical risk for prices and costs.
Tipo: Report Palavras-chave: Risk and Uncertainty.
Ano: 2006 URL: http://purl.umn.edu/42095
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Impacts of Budget Reconciliation on U.S. Crop Producers AgEcon
Richardson, James W.; Outlaw, Joe L.; Raulston, J. Marc; Knapek, George M..
The President has called for a $6.96 billion savings in expenditures to agriculture over a five year period. A budget reconciliation is required to achieve these targeted savings from farm bill authorized expenditures. This study uses optimal control theory and farm level simulation to quantify the impacts on U.S. crop producers of reducing federal spending for agricultural income supports. Results indicate that the least harmful method for the Agricultural Committees to achieve budget savings of $3 billion is to reduce loan rates. At higher levels of net budget savings, some risk adverse decision makers would prefer that the Committees reduce target prices.
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural and Food Policy.
Ano: 2005 URL: http://purl.umn.edu/19540
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Representative Farms Economic Outlook for the January 2003 FAPRI/AFPC Baseline AgEcon
Richardson, James W.; Outlaw, Joe L.; Anderson, David P.; Sartwelle, James D., III; Schwart, Robert B., Jr.; Schumann, Keith D.; Feldman, Paul A.; Raulston, J. Marc; Klose, Steven L..
The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2001-2007 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) January 2003 Baseline. The FLIPSIM policy simulation model incorporates the historical risk faced by farmers for prices and...
Tipo: Working or Discussion Paper Palavras-chave: Agribusiness; Agricultural and Food Policy; Crop Production/Industries.
Ano: 2003 URL: http://purl.umn.edu/42699
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Representative Farms Economic Outlook for the January 2007 FAPRI/AFPC Baseline AgEcon
Richardson, James W.; Outlaw, Joe L.; Knapek, George M.; Raulston, J. Marc; Herbst, Brian K.; Fumasi, Roland J.; Anderson, David P.; Klose, Steven L..
The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2005-2012 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming operations in the nation’s major production regions came from two sources: • Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms, and • Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) January 2007 Baseline. The FLIPSIM policy simulation model incorporates the historical risk faced by farmers for prices...
Tipo: Working or Discussion Paper Palavras-chave: Agribusiness; Crop Production/Industries; Livestock Production/Industries.
Ano: 2007 URL: http://purl.umn.edu/42086
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Regional and Structural Impacts of Alternative Dairy Policy Options AgEcon
Anderson, David P.; Herbst, Brian K.; Outlaw, Joe L.; Richardson, James W..
Milk and dairy product prices have fallen to their lowest levels in 3 years following the record highs of 2004 and 2005. The large government stockpiles of non-fat dry milk are gone, but threaten to build again as non-fat dry milk and cheese prices decline nearer the support price level. A new farm bill is scheduled to be written in 2007. The Milk Income Loss Contract (MILC) program included in the last farm bill was only authorized through September 2005. Subsequent legislation reinstated the MILC program through August 2007. WTO negotiations are on-going and could influence U.S. farm programs 1/. Dairy’s role in the U.S. amber box limit of $19.1 billion may necessitate some possible trade-offs with other commodities. Dairy counts about $4.2 billion...
Tipo: Working or Discussion Paper Palavras-chave: Agribusiness; Agricultural and Food Policy; Livestock Production/Industries.
Ano: 2006 URL: http://purl.umn.edu/42094
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Economic Outlook for Representative Cotton Farms Given the August 2005 FAPRI/AFPC Baseline AgEcon
Outlaw, Joe L.; Richardson, James W.; Raulston, J. Marc; Knapek, George M.; Feldman, Paul A..
The Agricultural and Food Policy Center (AFPC) at Texas A&M University develops and maintains data to simulate eighteen representative cotton operations in major production areas of seven states. The chief purpose of this analysis is to project those farms’ economic viability for 2005 through 2009. The data necessary to simulate the economic activity of these operations is developed through ongoing cooperation with panels of agricultural producers in each of these states. The Food and Agricultural Policy Research Institute (FAPRI) provided projected prices, policy variables, and input inflation rates in their August 2005 Baseline. Under the August 2005 Baseline, only the moderately sized Tennessee cotton farm (TNC1900) and Louisiana cotton farm...
Tipo: Working or Discussion Paper Palavras-chave: Agribusiness; Agricultural and Food Policy; Crop Production/Industries.
Ano: 2005 URL: http://purl.umn.edu/42106
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Representative Farms Economic Outlook for the November 2002 FAPRI/AFPC Baseline AgEcon
Richardson, James W.; Outlaw, Joe L.; Anderson, David P.; Sartwelle, James D., III; Schwart, Robert B., Jr.; Schumann, Keith D.; Klose, Steven L..
The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2001-2007 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) November 2002 Baseline. The FLIPSIM policy simulation model incorporates the historical risk faced by farmers for prices and...
Tipo: Working or Discussion Paper Palavras-chave: Agribusiness; Agricultural and Food Policy; Crop Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/42703
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Financial Impacts of Regional Differences in Dairies AgEcon
Outlaw, Joe L.; Herbst, Brian K.; Richardson, James W.; Anderson, David P..
The sensitivity of net cash farm income to changes in selected production variables, output prices, and input costs varies significantly across representative U.S. dairies. Different regions of the country were impacted differently by changes to production and prices.
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural Finance; Q12; Q14.
Ano: 2007 URL: http://purl.umn.edu/34937
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Comparison of Risk in Organic, Integrated and Conventional Cropping Systems in Eastern Norway AgEcon
Lien, Gudbrand D.; Flaten, Ola; Korsaeth, Audun; Schumann, Keith D.; Richardson, James W.; Eltun, Ragnar.
This study exemplifies the first implementation experiences of Balanced Scorecard and the first results of them in Ukrainian agricultural enterprises. Essential prerequisites for the functioning of the BSC concept into practical agriculture will be discussed. Finally, some critical success factors to the BSC adoption by agricultural companies will be identified.
Tipo: Conference Paper or Presentation Palavras-chave: Balanced Scorecard; Strategic Management; Ukraine; Crop Production/Industries.
Ano: 2005 URL: http://purl.umn.edu/24251
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Representative Farms Economic Outlook for the January 2004 FAPRI/AFPC Baseline AgEcon
Outlaw, Joe L.; Richardson, James W.; Herbst, Brian K.; Anderson, David P.; Sartwelle, James D., III; Raulston, J. Marc; Feldman, Paul A.; Schumann, Keith D.; Klose, Steven L.; Schwart, Robert B., Jr.; Zimmel, Peter.
The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2001-2008 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming and ranching operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) January 2004 Baseline. The primary objective of the analysis is to determine the farms’ economic viability by...
Tipo: Working or Discussion Paper Palavras-chave: Agribusiness; Agricultural and Food Policy; Crop Production/Industries.
Ano: 2008 URL: http://purl.umn.edu/42683
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Representative Farms Economic Outlook for the December 2007 FAPRI/AFPC Baseline AgEcon
Richardson, James W.; Outlaw, Joe L.; Knapek, George M.; Raulston, J. Marc; Herbst, Brian K.; Fumasi, Roland J.; Anderson, David P.; Bryant, Henry L.; Klose, Steven L.; Zimmel, Peter.
The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 (2002 Farm Bill) on representative crop, dairy, and livestock operations are projected in this report. The analysis was conducted over the 2007-2012 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate agricultural operations in the nation’s major production regions came from two sources: • Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. • Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) December 2007 Baseline. The FLIPSIM policy simulation model incorporates the historical risk...
Tipo: Working or Discussion Paper
Ano: 2007 URL: http://purl.umn.edu/37977
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THE USE OF BIOPHYSICAL AND EXPECTED PAYOFF PROBABILITY SIMULATION MODELING IN THE ECONOMIC ASSESSMENT OF BRUSH MANAGEMENT ALTERNATIVES AgEcon
Schumann, Keith D.; Conner, J. Richard; Richardson, James W.; Stuth, Jerry W.; Hamilton, Wayne T.; Drawe, D. Lynn.
Woody plant encroachment restricts forage production and capacity to produce grazing livestock. Biophysical plant growth simulation and economic simulation were used to evaluate a prescribed burning range management technique. Modeling systems incorporated management practices and costs, historical climate data, vegetation and soil inventories, livestock production data, and historical regional livestock prices. The process compared baseline non-treatment return estimates to expected change in livestock returns resulting from prescribed burning. Stochastic analyses of production and price variability produced estimates of greater net returns resulting from use of prescribed burning relative to the baseline.
Tipo: Journal Article Palavras-chave: Biophysical simulation; Prescribed burning; Range management; Simulation; Land Economics/Use.
Ano: 2001 URL: http://purl.umn.edu/15452
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Representative Farms Economic Outlook for the December 2006 FAPRI/AFPC Baseline AgEcon
Outlaw, Joe L.; Richardson, James W.; Knapek, George M.; Raulston, J. Marc; Herbst, Brian K.; Fumasi, Roland J.; Anderson, David P.; Klose, Steven L.; Zimmel, Peter.
Under the December 2006 Baseline, 25 of the 65 crop farms are considered in good liquidity condition (less than a 25 percent chance of negative ending cash in 2011). Five crop farms have between a 25 percent and a 50 percent likelihood of negative ending cash. The remaining 35 crop farms have greater than a 50 percent chance of negative ending cash. Additionally, 33 of the 65 crop farms are considered in good equity position (less than a 25 percent chance of decreasing real net worth during the study period). Eight crop farms have between a 25 percent and 50 percent likelihood of losing real net worth, and 24 crop farms have greater than a 50 percent probability of decreasing real net worth. The following discussion provides an overall evaluation by...
Tipo: Working or Discussion Paper Palavras-chave: Agribusiness; Agricultural and Food Policy; Crop Production/Industries; Livestock Production/Industries.
Ano: 2006 URL: http://purl.umn.edu/42089
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National Agricultural, Research, Extension, Education and Economics Advisory Board Southern Regional Listening Session - Small and Family Farms: Challenges and Needs Alcorn State University, Alcorn, Mississippi AgEcon
Smith, Edward G.; Richardson, James W.; Knutson, Ronald D..
The Agricultural and Food Policy Center’s (AFPC) primary purpose is to analyze the economic and financial impacts of alternative government policies on U.S. farming and ranching operations. This is accomplished through the maintenance of data necessary to simulate the economic and financial activities of more than 80 representative crop and livestock farms chosen from major production areas across the United States. Twenty of the 41 crop farms are located in the Southern region. A brief description of these crop farms and their location is summarized in Appendix A. The economic and financial observations reported in this paper are based on AFPC’s experience with the crop farms in the Southern region. The paper is organized into four sections. The first...
Tipo: Working or Discussion Paper Palavras-chave: Agricultural and Food Policy.
Ano: 1999 URL: http://purl.umn.edu/42788
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DISTRIBUTION CHOICE UNDER NULL PRIORS AND SMALL SAMPLE SIZE AgEcon
Feldman, Paul A.; Richardson, James W.; Schumann, Keith D..
Defining appropriate probability distributions for the variables in an economic model is an important and often arduous task. This paper evaluates the performance of several common probability distributions under different distributional assumptions when sample sizes are small and there is limited information about the data.
Tipo: Conference Paper or Presentation Palavras-chave: Research Methods/ Statistical Methods.
Ano: 2004 URL: http://purl.umn.edu/20012
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PREDICTING THE DIFFUSION OF HYBRIDS AND VARIETIES IN TEXAS AgEcon
Gambrell, Stefphanie M.; Richardson, James W.; Anderson, David P..
This paper examines the diffusion of specific rice varieties, as opposed to variety classes in the previous literature. Using simulation techniques to incorporate risk into the diffusion path, new variety product life cycle diffusion is projected with implications for breeders, researchers, and private companies.
Tipo: Conference Paper or Presentation Palavras-chave: Research and Development/Tech Change/Emerging Technologies.
Ano: 2004 URL: http://purl.umn.edu/20299
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Analysis of the Effects of Proposed House and Senate Farm Bills on Rice Returns AgEcon
Richardson, James W.; Outlaw, Joe L.; Klose, Steven L.; Anderson, David P.; Womack, Abner W..
This report reflects analysis of projected gross returns under the proposed farm programs – H.R. 2646 the House Bill that passed the House floor on October 5th, the Senate Bill that passed the Senate Agriculture Committee on November 15th and the Cochran/Roberts Bill that was defeated previously in committee.
Tipo: Working or Discussion Paper Palavras-chave: Agricultural and Food Policy.
Ano: 2001 URL: http://purl.umn.edu/42722
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Representative Farms Economic Outlook for the November 2002 FAPRI/AFPC Baseline AgEcon
Richardson, James W.; Outlaw, Joe L.; Anderson, David P.; Sartwelle, James D., III; Feldman, Paul A.; Schumann, Keith D.; Klose, Steven L.; Schwart, Robert B., Jr.; Zimmel, Peter.
The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2001-2007 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) November 2002 Baseline. The primary objective of the analysis is to determine the farms’ economic viability by region and...
Tipo: Working or Discussion Paper Palavras-chave: Agribusiness; Agricultural and Food Policy; Crop Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/42709
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ESTIMATING PRICE VARIABILITY IN AGRICULTURE: IMPLICATIONS FOR DECISION MAKERS AgEcon
Ray, Daryll E.; Richardson, James W.; Torre Ugarte, Daniel de la; Tiller, Kelly.
Using a stochastic version of the POLYSYS modeling framework, an examination of projected variability in agricultural prices, supply, demand, stocks, and incomes is conducted for corn, wheat, soybeans, and cotton during the 1998-2006 period. Increased planting flexibility introduced in the 1996 farm bill results in projections of significantly higher planted acreage variability compared to recent historical levels. Variability of ending stocks and stock-to-use ratios is projected to be higher for corn and soybeans and lower for wheat and cotton compared to the 1986-96 period. Significantly higher variability is projected for corn prices, with wheat and soybean prices also being more variable. No significant change in cotton price variability is projected.
Tipo: Journal Article Palavras-chave: POLYSYS model; Price variability; Stochastic simulation; Crop Production/Industries.
Ano: 1998 URL: http://purl.umn.edu/15100
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