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The Evolution Of Agricultural Soil Quality: A Methodology For Measurement And Some Land Market Implications

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  • Kim, Kwansoo
  • Barham, Bradford L.
  • Coxhead, Ian A.

Abstract

We apply two innovative econometric approaches to crop trials data to examine effects of rotations and fertilizer use on dynamics of soil quality and corn yields. First, we develop a random coefficients model of yield responses to nitrogen fertilizer and rotations to evaluate both short- and long-run substitutability of N fertilizer for rotation. Second, we construct a dynamic structural model to explicitly recover an indirect but general measure of soil quality. The results yield insights about optimal soil-conserving investments under asymmetric information.

Suggested Citation

  • Kim, Kwansoo & Barham, Bradford L. & Coxhead, Ian A., 1998. "The Evolution Of Agricultural Soil Quality: A Methodology For Measurement And Some Land Market Implications," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20889, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea98:20889
    DOI: 10.22004/ag.econ.20889
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    References listed on IDEAS

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    1. Kenneth E. McConnell, 1983. "An Economic Model of Soil Conservation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(1), pages 83-89.
    2. G. C. Van Kooten & Ward P. Weisensel & Duangdao Chinthammit, 1990. "Valuing Trade-Offs between Net Returns and Stewardship Practices: The Case of Soil Conservation in Saskatchewan," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(1), pages 104-113.
    3. David J. Walker & Douglas L. You, 1986. "The Effect of Technical Progress on Erosion Damage and Economic Incentives for Soil Conservation," Land Economics, University of Wisconsin Press, vol. 62(1), pages 83-93.
    4. Kim, Kwansoo & Barham, Bradford L. & Coxhead, Ian, 1997. "Recovering a Soil Quality Measure from Crop Trials Data: A Dynamic Econometric Method," Staff Papers 200595, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    5. Daniel B. Taylor & Douglas L. Young & David J. Walker & Edgar L. Michalson, 1986. "Farm-Level Economics of Soil Conservation in the Palouse Area of the Northwest: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(2), pages 364-366.
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    7. Joyotee Smith & Gloria Umali, 1985. "Production Risk and Optimal Fertilizer Rates: A Random Coefficient Model," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(3), pages 654-659.
    8. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    9. Hansen, LeRoy T., 1991. "Farmer Response to Changes in Climate: The Case of Corn Production," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 43(4), pages 1-8.
    10. Oscar R. Burt, 1981. "Farm Level Economics of Soil Conservation in the Palouse Area of the Northwest," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(1), pages 83-92.
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    Cited by:

    1. Kim, Kwansoo & Barham, Bradford L. & Coxhead, Ian, 2001. "Measuring soil quality dynamics: A role for economists, and implications for economic analysis," Agricultural Economics, Blackwell, vol. 25(1), pages 13-26, June.

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