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Certainty Equivalence For Determination Of Optimal Fertilizer Application Rates With Carry-Over

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  • Taylor, C. Robert

Abstract

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.

Suggested Citation

  • Taylor, C. Robert, 1983. "Certainty Equivalence For Determination Of Optimal Fertilizer Application Rates With Carry-Over," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 8(1), pages 1-4, July.
    • Handle: RePEc:ags:wjagec:32490
    DOI: 10.22004/ag.econ.32490
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    References listed on IDEAS

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    1. M. S. Stauber & Oscar R. Burt & Fred Linse, 1975. "An Economic Evaluation of Nitrogen Fertilization of Grasses When Carry-over is Significant," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(3), pages 463-471.
    2. Kennedy, John O.S., 1981. "An Alternative Method for Deriving Optimal Fertilizer Rates: Comment and Extension," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 49(03), pages 1-7, December.
    3. Godden, David P. & Helyar, K.R., 1980. "An Alternative Method for Deriving Optimal Fertilizer Rates," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 48(02), pages 1-15, August.
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    1. Farquharson, Robert J. & Cacho, Oscar J. & Mullen, John D., 2005. "An economic approach to soil fertility management for wheat production in New South Wales and Queensland," 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia 137866, Australian Agricultural and Resource Economics Society.
    2. Watkins, K. Bradley & Lu, Yao-Chi & Huang, Wen-Yuan, 1998. "Economic And Environmental Feasibility Of Variable Rate Nitrogen Fertilizer Application With Carry-Over Effects," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 23(2), pages 1-26, December.

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