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Agricultural Production Under Uncertainty: A Model Of Optimal Intraseasonal Management

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  • Weninger, Quinn
  • Zhao, Jinhua

Abstract

This paper develops a dynamic model of crop production under uncertainty with intraseasonal input choices. Crop production involves multiple stages, including at least seeding, post emergence fertilizer/pesticide application and harvesting. If the farmer receives new information about the output and/or price during the stages, he may wish to adjust the input use at each stage in response to the future possible information. Whether future information leads to higher or lower input use at earlier stages depends on the production function, in particular whether inputs at different stages are substitutes or complements in the production function.

Suggested Citation

  • Weninger, Quinn & Zhao, Jinhua, 2002. "Agricultural Production Under Uncertainty: A Model Of Optimal Intraseasonal Management," 2002 Annual meeting, July 28-31, Long Beach, CA 19639, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea02:19639
    DOI: 10.22004/ag.econ.19639
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    References listed on IDEAS

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    1. Jean-Daniel M. Saphores, 2000. "The Economic Threshold with a Stochastic Pest Population: A Real Options Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 541-555.
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    Keywords

    Farm Management;

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