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Use Of Stochastic Simulation To Value Improved Crop Forecast Information

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  • Marquis, Duane L.
  • Ray, Daryll E.

Abstract

Consumer and producer surplus is used with The National Agricultural Policy Simulator (POLYSIM) to estimate the value of improved crop forecast information. For the three supply-demand scenarios evaluated-excess, tight and fluctuating--the net domestic value of improved information is positive ($512 and $73 million) for the latter two situations.

Suggested Citation

  • Marquis, Duane L. & Ray, Daryll E., 1981. "Use Of Stochastic Simulation To Value Improved Crop Forecast Information," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279419, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea81:279419
    DOI: 10.22004/ag.econ.279419
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    References listed on IDEAS

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    1. Hayami, Yujiro & Peterson, Willis, 1972. "Social Returns to Public Information Services: Statistical Reporting of U. S. Farm Commodities," American Economic Review, American Economic Association, vol. 62(1), pages 119-130, March.
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