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Crop Selection and Implications for Profits and Wind Erosion in a Semi‐Arid Environment
Author(s) -
Lee John G.,
Ellis John R.,
Lacewell Ronald D.
Publication year - 1988
Publication title -
agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.29
H-Index - 82
eISSN - 1574-0862
pISSN - 0169-5150
DOI - 10.1111/j.1574-0862.1988.tb00062.x
Subject(s) - stochastic dominance , cropping , economics , profit (economics) , arid , crop rotation , aeolian processes , risk aversion (psychology) , econometrics , dominance (genetics) , soil loss , stochastic modelling , environmental science , cropping system , agricultural economics , agricultural engineering , mathematics , crop , erosion , expected utility hypothesis , microeconomics , geography , agriculture , ecology , financial economics , geology , forestry , engineering , biology , paleontology , geomorphology , chemistry , archaeology , biochemistry , finance , gene
A daily crop growth simulation model was applied to four dryland cropping systems to estimate the profit distributions for each of four price series under stochastic weather conditions on the Southern High Plains of Texas. Stochastic dominance with respect to a function was utilized to rank each crop rotation for different risk‐averse intervals. Solutions from the model indicate that long‐term average annual soil loss due to wind erosion was a function of the producer's risk aversion, price expectation, and discount rate which affect the optimal crop rotation selection.