IDEAS home Printed from https://ideas.repec.org/p/ags/umaesp/14072.html
   My bibliography  Save this paper

Suggested Procedures For Estimating Farm Machinery Costs

Author

Listed:
  • Lazarus, William F.
  • Selley, Roger A.

Abstract

The North Central Farm Machinery Task Force is a group of extension economists who evaluated alternative methods for estimating farm machinery costs and made recommendations for the development of extension materials. This paper describes the procedures agreed upon, and explains the rationale for the procedures chosen. The focus is on "typical" machinery costs for use in extension budgets and other analyses and examples. This paper also provides detailed documentation of the methods used in recent versions of the widely used Minnesota Farm Machinery Economic Cost Estimates publication (referred to below as "the Minnesota fact sheet"), focusing mainly on the 2000 version.

Suggested Citation

  • Lazarus, William F. & Selley, Roger A., 2002. "Suggested Procedures For Estimating Farm Machinery Costs," Staff Papers 14072, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:14072
    DOI: 10.22004/ag.econ.14072
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/14072/files/p02-16.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.14072?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Timothy L. Cross & Gregory M. Perry, 1995. "Depreciation Patterns for Agricultural Machinery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(1), pages 194-204.
    2. Harrington, David H., 1983. "Costs and Returns: Economic and Accounting Concepts," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 35(4), pages 1-8, October.
    3. Hoffman, George & Gustafson, Cole, 1983. "A New Approach to Estimating Agricultural Costs of Production," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 35(4), pages 1-6, October.
    4. Hallam, Arne & Eidman, V. E. & Morehart, M. & Klonsky, K., 1998. "Commodity Costs and Returns Estimation Handbook: A Report of the Aaea Task Force on Commodity Costs and Returns," Staff General Research Papers Archive 1315, Iowa State University, Department of Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shockley, Jordan M. & Osborne, William A. & Dillon, Carl R. & Pierce, Jerry S., 2016. "A Two-Tiered Benchmarking Analysis for Cost Management," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2016.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lazarus, William F. & Selley, Roger A., 2001. "Suggested Procedures For Estimating Farm Machinery Costs For Extension Audiences," Staff Papers 14150, University of Minnesota, Department of Applied Economics.
    2. Li Lee, Mei, 1986. "Cost Competitiveness of Apple Production in British Columbia Versus Washington State," Working Papers 244004, Agriculture and Agri-Food Canada.
    3. Gustafson, Cole R., 1986. "Measuring The Productivity Of Capital In United States Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 18(2), pages 1-9, December.
    4. Dumler, Troy J. & Burton, Robert O., Jr. & Kastens, Terry L., 2000. "Use Of Alternative Depreciation Methods To Estimate Farm Tractor Values," 2000 Annual meeting, July 30-August 2, Tampa, FL 21800, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Mumey, Glen & Unterschultz, James R., 1996. "Risk Premia in Tractor and Combine Investments," Staff Paper Series 24123, University of Alberta, Department of Resource Economics and Environmental Sociology.
    6. Andersen, Matthew A. & Alston, Julian M. & Pardey, Philip G., 2009. "Capital Service Flows: Concepts and Comparisons of Alternative Measures in U.S. Agriculture," Staff Papers 50098, University of Minnesota, Department of Applied Economics.
    7. Ivan Herranz-Matey & Luis Ruiz-Garcia, 2024. "Enhancing Predictive Accuracy in European Agricultural Tractor Residual Value Estimation: A Double Square Root Regression Reappraisal," Agriculture, MDPI, vol. 14(5), pages 1-19, April.
    8. Yang, Dennis Tao & Zhu, Xiaodong, 2013. "Modernization of agriculture and long-term growth," Journal of Monetary Economics, Elsevier, vol. 60(3), pages 367-382.
    9. Suhao Wei & Yangxiao Lu, 2022. "Why China’s AMS Market Is Difficult to Develop Sustainably: Evidence from the North China Plain," Sustainability, MDPI, vol. 15(1), pages 1-16, December.
    10. Lin Gan & Takahashi Yoshifumi & Nomura Hisako & Yabe Mitsuyasu, 2024. "The short‐ and long‐term impacts of overinvestments on the profitability of agri‐food processing firms in China," Agribusiness, John Wiley & Sons, Ltd., vol. 40(1), pages 227-247, January.
    11. Ivan Herranz-Matey & Luis Ruiz-Garcia, 2024. "New Agricultural Tractor Manufacturer’s Suggested Retail Price (MSRP) Model in Europe," Agriculture, MDPI, vol. 14(3), pages 1-21, February.
    12. Ahearn, Mary Clare & Collender, Robert N. & Diao, Xinshen & Harrington, David H. & Hoppe, Robert A. & Korb, Penelope J. & Makki, Shiva S. & Morehart, Mitchell J. & Roberts, Michael J. & Roe, Terry L. , 2004. "Decoupled Payments In A Changing Policy Setting," Agricultural Economic Reports 33981, United States Department of Agriculture, Economic Research Service.
    13. Jens Rommel & Meike Weltin, 2021. "Is There a Cult of Statistical Significance in Agricultural Economics?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(3), pages 1176-1191, September.
    14. Beaton, Aaron J. & Dhuyvetter, Kevin C. & Kastens, Terry L. & Williams, Jeffery R., 2005. "Per Unit Costs to Own and Operate Farm Machinery," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 37(1), pages 131-144, April.
    15. Betts, Carolyn, 1987. "Costs of Producing Milk, 1975-84," Agricultural Economic Reports 308027, United States Department of Agriculture, Economic Research Service.
    16. Ward, Barry, 2017. "Pr - Economic Depreciation: Evidence Of Change From High Margin To Low Margin Periods," 21st Congress, Edinburgh, Scotland, July 2-7, 2017 345785, International Farm Management Association.
    17. Paul Gallagher & Mark Dikeman & John Fritz & Eric Wailes & Wayne Gauthier & Hosein Shapouri, 2003. "Supply and Social Cost Estimates for Biomass from Crop Residues in the United States," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 24(4), pages 335-358, April.
    18. Peck, Dannele E. & Adams, Richard M., 2010. "Farm-level impacts of prolonged drought: is a multiyear event more than the sum of its parts?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(01), pages 1-18.
    19. G. F. Ortmann, 1987. "Land Rents and Production Costs in the South African Sugar Industry," South African Journal of Economics, Economic Society of South Africa, vol. 55(3), pages 163-169, September.
    20. Peck, Dannele E. & Adams, Richard M., 2007. "The persistence of drought impacts across growing seasons: a dynamic stochastic analysis," 101st Seminar, July 5-6, 2007, Berlin Germany 9253, European Association of Agricultural Economists.

    More about this item

    Keywords

    Agricultural Finance; Farm Management;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:umaesp:14072. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/daumnus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.