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The Value of Information and the Value of Theoretical Models in Crop Response Research
Author(s) -
Perrin Richard K.
Publication year - 1976
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238577
Subject(s) - hectare , value (mathematics) , crop , value of information , mathematics , statistics , econometrics , agricultural engineering , geography , forestry , agriculture , mathematical economics , engineering , archaeology
The concepts of the value of information and the value of alternative models are developed and applied to corn response research in Brazil. Soil test information was worth as much as $30 per hectare and the response model employed was worth up to $23 per hectare, but two soil classification models had negative values.