| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
INFORMATION VALUE AND RISK PREMIUM IN AGRICULTURAL PRODUCTION UNDER RISK: THE CASE OF SPLIT NITROGEN APPLICATION FOR CORN
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| Autores: |
Thomas, Alban
Bontems, Philippe
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| Data: |
1998-05-15
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| Ano: |
1998
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| Palavras-chave: |
Research Methods/ Statistical Methods
Risk and Uncertainty
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| Resumo: |
This paper considers an agricultural production model of sequential nitrogen application under risk. Because of random shocks between successive production stages, optimal fertilization decisions depend on the magnitude of farmers' risk aversion (risk premium), and the possibility for farmers to process information (value of information). We propose a joint estimation procedure of technology and risk aversion parameters, using a structural, simulation-based econometric technique. Parameter estimates for the representative farmer's utility function allow to compute both the value of information and the risk premium for farmers. Those account together for about 30 percent of fertilizer cost for Midwest corn producers.
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| Tipo: |
Conference Paper or Presentation
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| Idioma: |
Inglês
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| Identificador: |
693
http://purl.umn.edu/20844
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| Editor: |
AgEcon Search
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| Relação: |
American Agricultural Economics Association>1998 Annual meeting, August 2-5, Salt Lake City, UT
Selected Paper
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| Formato: |
14
application/pdf
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