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| Registros recuperados: 19 | |
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| Taylor, C. Robert. |
| This paper presents a hyperbolic trigonometric (HT) transformation procedure for empirically estimating a cumulative probability distribution function (cdf), from which the probability density function (pdf) can be obtained by differentiation. Maximum likelihood (ML) is the appropriate estimation technique, but a particularly appealing feature of the HT transformation as opposed to other zero-one transformations is that the transformed cdf can be fitted with ordinary least squares (OLS) regression. Although OLS estimates are biased and inconsistent, they are usually very close to ML estimates; thus use of OLS estimates as starting values greatly facilitates use of numerical search procedures to obtain ML estimates. ML estimates have desirable asymptotic... |
| Tipo: Journal Article |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 1984 |
URL: http://purl.umn.edu/32377 |
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| Taylor, C. Robert. |
| This note demonstrates that a certain class of stochastic problems for determination of optimal fertilizer application rates in the presence of fertilizer carry-over can be simplified to static, certainly equivalent problems. Conditions required for certainty equivalence to hold are: (1) fertilizer carry-over is agronomically equivalent to applied fertilizer; and (2) some addition of fertilizer is optimal in every decision period. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1983 |
URL: http://purl.umn.edu/32490 |
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| Talpaz, Hovav; Taylor, C. Robert. |
| This paper presents a theoretical framework for incorporating the following sources of risk into the determination of optimal fertilization rates: (a) the influence of weather and other stochastic factors on the marginal product of fertilizer, and (b) uncertainty about the coefficients of the response function. The decision criterion considered is the maximization of profit subject to a risk constraint on the probability of not recovering the cost of the fertilizer. The theoretical framework is applied to the fertilization of dryland grain sorghum in the Texas Blacklands. Results indicate that the risk averse producer should substantially lower his fertilization rate if soil moisture at fertilization time is low. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1977 |
URL: http://purl.umn.edu/32333 |
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| Taylor, C. Robert. |
| This article graphically illustrates the one-to-one duality mapping among the production function, the product supply equation, the derived factor demand equation, and the indirect profit function for the classical profit maximization problem. This pedagogical framework is then used to illustrate how empirical application of conventional duality theory can lead to distorted empirical results if the theory (e.g. Hotellings lemma) does not apply because the firm is not a profit maximizer or because envelope results from the wrong optimization model are used. Although the presentation is in terms of profit maximization, the basic concepts can be extended to other maintained behavioral hypotheses such as cost minimization or utility maximization. Plausible... |
| Tipo: Journal Article |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 1989 |
URL: http://purl.umn.edu/32355 |
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| Frank, E. Todd; Duffy, Patricia A.; Taylor, C. Robert; Bransby, David; Runge, Max; Rodriguez-Kabana, Rodrigo. |
| Linear programming and enterprise budgeting were used to analyze rotation options, including an energy crop (intercropped grain sorghum and velvet bean), for a representative south Alabama farm. The energy crop was priced beginning at $30.00 per ton, at which price it did not enter the solution. At prices of $41 per ton or higher, the energy crop was produced. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/34666 |
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| Schnitkey, Gary D.; Taylor, C. Robert; Barry, Peter J.. |
| This paper examines farmland investment decisions using a stochastic dynamic programming framework. Consideration is given to the dynamic, stochastic nature of farmland returns, linkages between farmland returns and farmland prices, and the effects of the above dynamic factors on a farms financial structure. Optimal decisions to purchase or sell farmland are found for a central Illinois farm with high quality farmland. Sizes and debt distributions are then determined, given that the optimal decision rule is followed. Decisions from the dynamic programming model also are compared to a capital budgeting model. |
| Tipo: Journal Article |
Palavras-chave: Land Economics/Use. |
| Ano: 1989 |
URL: http://purl.umn.edu/32457 |
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| Kouka, Pierre-Justin; Duffy, Patricia A.; Taylor, C. Robert. |
| Optimal crop and livestock mix was determined for a representative Alabama farm using a dynamic programming model. Results indicate that decisions concerning livestock production are highly influenced by the amount of cotton base available on the farm. In most cases, increasing cotton base results in less cattle production. The triple base provisions of the 1990 Farm Bill, however, may give some cotton farmers an incentive to produce more stocker cattle during the winter months. Research results also indicate that the availability of farm programs can alter the optimal enterprise mix on a farm with no beginning base in cotton. |
| Tipo: Journal Article |
Palavras-chave: Farm programs; Dynamic programming; Livestock; Farm Management. |
| Ano: 1994 |
URL: http://purl.umn.edu/15407 |
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| Burt, Oscar R.; Taylor, C. Robert. |
| Statistical procedures are developed for reducing the number of autonomous state variables in stochastic dynamic optimization models when these variables follow a stationary process over time. These methods essentially delete part of the information upon which decisions are based while maintaining a logically consistent model. The relatively simple linear autoregressive process as well as the general case is analyzed and the necessary formulae for practical application are derived. Several applications in agricultural economics are discussed and results presented which quantify the relative amount of information sacrificed with the reduction in number of state variables. |
| Tipo: Journal Article |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 1989 |
URL: http://purl.umn.edu/32349 |
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| Duffy, Patricia A.; Taylor, C. Robert. |
| Dynamic programming techniques were used to evaluate the effects of alternative levels of normal flex acreage requirements on a Midwestern corn-soybean farm and a Southeastern cotton farm. Results indicate that increasing normal flex acres from the current level of 15 percent to 35 percent would provide inducement for farmers in both regions to plant more soybeans. In general, the cotton farm incurs considerably higher expected losses from the change. Thus, there are unequal regional consequences of such a policy change. |
| Tipo: Journal Article |
Palavras-chave: Farm Management. |
| Ano: 1994 |
URL: http://purl.umn.edu/31319 |
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| Taylor, C. Robert; Lacewell, Ronald D.; Talpaz, Hovav. |
| A framework for combining extraneous information with an econometric model to evaluate the economic impacts of pesticide withdrawals is presented in this paper. The extraneous information, which can be a best guess or experimental data, is used to shift an econometrically estimated supply function. The full sectoral econometric model is then simulated through time with and without the supply shift to estimate the relative impacts of withdrawing the pesticide. The theoretical framework is applied to the withdrawal of all insecticides used on cotton. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1979 |
URL: http://purl.umn.edu/32429 |
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| Registros recuperados: 19 | |
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