IDEAS home Printed from https://ideas.repec.org/a/ags/joaaec/15491.html
   My bibliography  Save this article

Non-Parametric And Semi-Parametric Techniques For Modeling And Simulating Correlated, Non-Normal Price And Yield Distributions: Applications To Risk Analysis In Kansas Agriculture

Author

Listed:
  • Featherstone, Allen M.
  • Kastens, Terry L.

Abstract

Parametric, non-parametric, and semi-parametric approaches are commonly used for modeling correlated distributions. Semi-parametric and non-parametric approaches are used to examine the risk situation for Kansas agriculture. Results from the model indicate that 2000 will be another difficult year for Kansas farmers, although crop income will increase slightly from 1999. However, unless another supplemental infusion of government payments occurs, crop income is expected to be the lowest since 1992.

Suggested Citation

  • Featherstone, Allen M. & Kastens, Terry L., 2000. "Non-Parametric And Semi-Parametric Techniques For Modeling And Simulating Correlated, Non-Normal Price And Yield Distributions: Applications To Risk Analysis In Kansas Agriculture," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(2), pages 1-15, August.
    • Handle: RePEc:ags:joaaec:15491
    DOI: 10.22004/ag.econ.15491
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/15491/files/32020267.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.15491?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Richardson, James W. & Klose, Steven L. & Gray, Allan W., 2000. "An Applied Procedure For Estimating And Simulating Multivariate Empirical (Mve) Probability Distributions In Farm-Level Risk Assessment And Policy Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(2), pages 1-17, August.
    2. Allen C. Miller, III & Thomas R. Rice, 1983. "Discrete Approximations of Probability Distributions," Management Science, INFORMS, vol. 29(3), pages 352-362, March.
    3. Ramirez, Octavio A., 2000. "Parametric Modeling and Simulation of Joint Price-Production Distributions under Non-Normality, Autocorrelation and Heteroscedasticity: A Tool for Assessing Risk in Agriculture," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 32(2), pages 283-297, August.
    4. Featherstone, Allen M. & Moghnieh, Ghassan A. & Goodwin, Barry K., 1995. "Farm-level nonparametric analysis of cost-minimization and profit-maximization behavior," Agricultural Economics, Blackwell, vol. 13(2), pages 109-117, November.
    5. Terry L. Kastens & Allen M. Featherstone, 1997. "Federal Agricultural Improvement and Reform Act of 1996: A Kansas Perspective," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 19(2), pages 326-349.
    6. Newey, Whitney K, 1990. "Semiparametric Efficiency Bounds," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 5(2), pages 99-135, April-Jun.
    7. Allen M. Featherstone & Charles B. Moss & Timothy G. Baker & Paul V. Preckel, 1988. "The Theoretical Effects of Farm Policies on Optimal Leverage and the Probability of Equity Losses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(3), pages 572-579.
    8. Eakin, B Kelly & McMillen, Daniel P & Buono, Mark J, 1990. "Constructing Confidence Intervals Using the Bootstrap: An Application to a Multi-Product Cost Function," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 339-344, May.
    9. repec:ags:joaaec:v:32:y:2000:i:2:p:299-315 is not listed on IDEAS
    10. Paul V. Preckel & Eric DeVuyst, 1992. "Efficient Handling of Probability Information for Decision Analysis under Risk," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(3), pages 655-662.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Claassen, Roger & Cooper, Joseph C. & Carriazo, Fernando, 2011. "Crop Insurance, Disaster Payments and Land Use Change: The Effect of Sodsaver on Incentives for Grassland Conversion," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(2), pages 1-17, May.
    2. Tor N. Tolhurst & Alan P. Ker, 2015. "On Technological Change in Crop Yields," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 97(1), pages 137-158.
    3. Claassen, Roger & Carriazo, Fernando & Cooper, Joseph C. & Hellerstein, Daniel & Ueda, Kohei, 2011. "Grassland to Cropland Conversion in the Northern Plains: The Role of Crop Insurance, Commodity, and Disaster Programs," Economic Research Report 262239, United States Department of Agriculture, Economic Research Service.
    4. Asci, Serhat & VanSickle, John J. & Cantliffe, Daniel J., 2013. "The Potential for Greenhouse Tomato Production Expansion in Florida," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 143095, Southern Agricultural Economics Association.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Abrahams, Nii Adote & Shortle, James S., 1997. "Uncertainty And The Regulation Of Nitrate Pollution From Agriculture," 1997 Annual meeting, July 27-30, Toronto, Canada 21027, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. David Abler & Adrián Rodríguez & James Shortle, 1999. "Parameter Uncertainty in CGE Modeling of the Environmental Impacts of Economic Policies," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 14(1), pages 75-94, July.
    3. Horan, Richard D. & Claassen, Roger & Howe, Lance, 2001. "The Welfare Sensitivity Of Agri-Environmental Instruments," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(2), pages 1-19, December.
    4. Peck, Dannele E. & Adams, Richard M., 2010. "Farm-level impacts of prolonged drought: is a multiyear event more than the sum of its parts?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(1), pages 1-18.
    5. Peck, Dannele E. & Adams, Richard M., 2007. "The persistence of drought impacts across growing seasons: a dynamic stochastic analysis," 101st Seminar, July 5-6, 2007, Berlin Germany 9253, European Association of Agricultural Economists.
    6. Johnson, D. Demcey & DeVuyst, Eric A. & Nganje, William E., 2000. "Supply-Side Risks And Malting Barley Procurement And Storage," 2000 Annual Meeting, June 29-July 1, 2000, Vancouver, British Columbia 36367, Western Agricultural Economics Association.
    7. Christopher N. Boyer & B. Wade Brorsen & James R. Fain, 2015. "Private‐Value Auction Versus Posted‐Price Selling: An Agent‐Based Model Approach," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 22(4), pages 249-262, October.
    8. Horan, Richard D. & Claassen, Roger & Cooper, Joseph C., 2000. "Environmental Risk And Agri-Environmental Policy Design," 2000 Annual meeting, July 30-August 2, Tampa, FL 21827, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Etyang, Martin N. & Preckel, Paul V. & Binkley, James K. & Doster, D. Howard, 1998. "Field time constraints for farm planning models," Agricultural Systems, Elsevier, vol. 58(1), pages 25-37, September.
    10. Asci, Serhat & VanSickle, John J. & Cantliffe, Daniel J., 2013. "The Potential for Greenhouse Tomato Production Expansion in Florida," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 143095, Southern Agricultural Economics Association.
    11. Dasheng Ji & B. Brorsen, 2011. "A recombining lattice option pricing model that relaxes the assumption of lognormality," Review of Derivatives Research, Springer, vol. 14(3), pages 349-367, October.
    12. Asci, Serhat & Borisova, Tatiana & VanSickle, John J., 2015. "Role of economics in developing fertilizer best management practices," Agricultural Water Management, Elsevier, vol. 152(C), pages 251-261.
    13. Xiaohong Chen & Andres Santos, 2018. "Overidentification in Regular Models," Econometrica, Econometric Society, vol. 86(5), pages 1771-1817, September.
    14. Ichimura, Hidehiko & Todd, Petra E., 2007. "Implementing Nonparametric and Semiparametric Estimators," Handbook of Econometrics, in: J.J. Heckman & E.E. Leamer (ed.), Handbook of Econometrics, edition 1, volume 6, chapter 74, Elsevier.
    15. Sant’Anna, Pedro H.C. & Zhao, Jun, 2020. "Doubly robust difference-in-differences estimators," Journal of Econometrics, Elsevier, vol. 219(1), pages 101-122.
    16. Inanoglu, Hulusi & Jacobs, Michael, Jr. & Liu, Junrong & Sickles, Robin, 2015. "Analyzing Bank Efficiency: Are "Too-Big-to-Fail" Banks Efficient?," Working Papers 15-016, Rice University, Department of Economics.
    17. Sung Jae Jun & Sokbae Lee, 2024. "Causal Inference Under Outcome-Based Sampling with Monotonicity Assumptions," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 42(3), pages 998-1009, July.
    18. Karl Friedrich Mina & Gerald H. L. Cheang & Carl Chiarella, 2015. "Approximate Hedging Of Options Under Jump-Diffusion Processes," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 18(04), pages 1-26.
    19. Zhang, Jiyuan & Tang, Hailong & Chen, Min, 2019. "Linear substitute model-based uncertainty analysis of complicated non-linear energy system performance (case study of an adaptive cycle engine)," Applied Energy, Elsevier, vol. 249(C), pages 87-108.
    20. Thomas W. Keelin & Bradford W. Powley, 2011. "Quantile-Parameterized Distributions," Decision Analysis, INFORMS, vol. 8(3), pages 206-219, September.

    More about this item

    Keywords

    Research Methods/ Statistical Methods;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:joaaec:15491. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/saeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.