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A Stochastic Dominance Comparison of Reduced Tillage Systems in Corn and Soybean Production under Risk
Author(s) -
Klemme Richard M.
Publication year - 1985
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 - 10.2307/1241074
Subject(s) - bushel , chisel , acre , stochastic dominance , tillage , dominance (genetics) , yield (engineering) , mathematics , soil loss , agronomy , production (economics) , economics , environmental science , agricultural science , statistics , geography , erosion , biology , microeconomics , paleontology , biochemistry , materials science , gene , metallurgy , archaeology
Returns per acre of reduced tillage systems including conventional, chisel, till‐plant, and no‐till are examined under general assumptions concerning risk. These returns are calculated using com and soybean experimental plot yields. Stochastic dominance rankings indicate an advantage (second degree) of conventional and chisel over no‐till when soil loss costs are not assigned. Annual per acre soil loss costs of $@@‐@@5–15 shift rankings towards the reduced tillage systems. A $@@‐@@10 per acre cost results from corn yield losses of 0.06% per year (170 bushel per acre yield base) over fifty years with a 5% real discount rate.