Globally Flexible Modeling of County-Level Acreage Response for Primary U.S. Field Crops

This study takes the standard acreage response model that stems from an expected utility framework, accounting for both price and yield variability, and nests it within a flexible semi-nonparametric (SNP) model consistent with farm-level decision models for computationally tractable results. We use county-level data to estimate the response of farmers’ planting preferences to changes in revenue and other variables.acreage response, Elasticities, field crops, semi-nonparametric, risk, Agricultural and Food Policy, Crop Production/Industries, Farm Management, Land Economics/Use, Production Economics, Research Methods/ Statistical Methods, Risk and Uncertainty,

Acreage Decisions When Risk Preferences Vary

This presentation summarizes an AAEA poster.Risk preferences, acreage decision, soybeans, corn, wheat, Crop Production/Industries, Risk and Uncertainty,

Acreage Decisions When Risk Preferences Vary

This poster summarizes work on developing a direct and indirect risk preference function to represent producers who make acreage decisions. Risk is depicted as a constraint which producers face when making acreage decisions. A dual to the acreage decision problem is set up and used to obtain a indirect risk function. Derivative properties of the function are used to specify acreage equations. Sample acreage equations are estimated, using county level data for corn, wheat, and soybeans producers

Globally Flexible Modeling of County-Level Acreage Response for Primary U.S. Field Crops

This study takes the standard acreage response model that stems from an expected utility framework, accounting for both price and yield variability, and nests it within a flexible semi-nonparametric (SNP) model consistent with farm-level decision models for computationally tractable results. We use county-level data to estimate the response of farmers’ planting preferences to changes in revenue and other variables