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Optimal Levels of Fertilization Under Risk: The Potential for Corn and Wheat Fertilization Under Alternative Price Policies in Argentina

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  • Alain De Janvry

Abstract

Because economic return from fertilization is stochastic, a precise assessment of the risk in fertilizer investment is critical, especially in less-developed countries. Using corn and wheat fertilizer response data from the Argentine Pampa, production conditions under which use of fertilizer would be economical are determined. Government protection of an obsolete fertilizer industry, high fertilizer prices, and inadequate tax breaks for users retard development of modern fertilizer technology. Despite current prices, fertilization would be possible on a majority of Argentine farms. Lack of use is attributed to the unavailability to farmers of technical and economic information. Social gains from alternative fertilizer price policies are calculate.

Suggested Citation

  • Alain De Janvry, 1972. "Optimal Levels of Fertilization Under Risk: The Potential for Corn and Wheat Fertilization Under Alternative Price Policies in Argentina," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(1), pages 1-10.
    • Handle: RePEc:oup:ajagec:v:54:y:1972:i:1:p:1-10.
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    1. Lu, Yao-Chi, 1975. "Measuring Productivity Change In U.S. Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 7(2), pages 1-7, December.
    2. Knudson, Mary & Hansen, LeRoy, 1991. "Intellectual Property Rights and the Private Seed Industry," Agricultural Economic Reports 308158, United States Department of Agriculture, Economic Research Service.
    3. Young, Douglas & Lin, William & Pope, Rulon & Robison, Lindon & Selley, Roger, 1979. "Risk Preferences Of Agricultual Producers:Their Measurement And Use," Risk Management in Agriculture: Behavioral, Managerial, and Policy Issues, January 25-26, 1979, San Francisco, California 271459, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    4. Mark W. Rosegrant & James A. Roumasset, 1985. "The Effect Of Fertiliser On Risk: A Heteroscedastic Production Function With Measurable Stochastic Inputs," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 29(2), pages 107-121, August.
    5. Anderson, Jock R., 1974. "Risk Efficiency in the Interpretation of Agricultural Production Research," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(03), pages 1-54, September.
    6. Tembo, Gelson & Brorsen, B. Wade & Epplin, Francis M., 2003. "Linear Response Stochastic Plateau Functions," 2003 Annual Meeting, February 1-5, 2003, Mobile, Alabama 35217, Southern Agricultural Economics Association.
    7. Martínez, Juan Carlos, 1973. "On the economics of technological change: induced innovation in Argentine agriculture," ISU General Staff Papers 197301010800005952, Iowa State University, Department of Economics.
    8. Day, Richard H. & Sparling, Edward & Woodworth, Roger C., 1977. "PART II. Economic Optimization in Agricultural and Resource Economics," AAEA Monographs, Agricultural and Applied Economics Association, number 337222, january.
    9. Anderson, Jock R., 1972. "An Overview of Modelling in Agricultural Management," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 40(03), pages 1-12, September.
    10. M. Dean Ethridge & Fred C. White & D. Kannan, 1975. "Optimizing Seed Acreage: Decision Making with Production and Utilization Uncertainties," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(3), pages 439-449.
    11. Throsby, C.D., 1973. "New Methodologies in Agricultural Production Economics: a Review," 1973 Conference, August 19-30, 1973, São Paulo, Brazil 181385, International Association of Agricultural Economists.
    12. McSweeny, William T. & Shortle, James S., 1989. "Reducing Nutrient Application Rates For Water Quality Protection In Intensive Livestock Areas: Policy Implications Of Alternative Producer Behavior," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 18(1), pages 1-11, April.
    13. Peterson, Willis L., 1975. "The Social Cost Of A Cheap Food Policy: The Case Of Argentine Corn Production," Staff Papers 13468, University of Minnesota, Department of Applied Economics.
    14. Hassan, Rashid M. & Hallam, Arne & D'Silva, B., 1988. "Stochastic Technology in a Programming Framework: A Generalized E. V. Model," 1988 Annual Meeting, August 1-3, Knoxville, Tennessee 270212, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. Hatch, L. Upton & Atwood, Joseph A. & Segar, James, 1989. "An Application Of Safety-First Probability Limits In A Discrete Stochastic Farm Management Programming Model," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(1), pages 1-8, July.
    16. Wallace E. Huffman & Yu Jin & Zheng Xu, 2018. "The economic impacts of technology and climate change: New evidence from U.S. corn yields," Agricultural Economics, International Association of Agricultural Economists, vol. 49(4), pages 463-479, July.
    17. Roumasset, James A., 1974. "Estimating The Risk Of Alternate Techniques: Nitrogenous Fertilization Of Rice In The Philippines," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(04), pages 1-38, December.
    18. Griffin, Ronald C. & Rister, M. Edward & Montgomery, John M. & Turner, Fred T., 1985. "Scheduling Inputs With Production Functions: Optimal Nitrogen Programs For Rice," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(1), pages 1-10, July.
    19. Watson, W.D. & Anderson, Jock R., 1977. "SPATIAL v. TIME-SERIES DATA FOR ASSESSING RESPONSE RISK," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 45(03), pages 1-5, September.
    20. Fufa, B. & Hassan, Rashid M., 2003. "Stochastic maize production technology and production risk analysis in Dadar district, East Ethiopia," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 42(2), pages 1-13, June.

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