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Economic Analysis of Irrigation in Subhumid Climate
Author(s) -
Burt Oscar R.,
Stauber M. S.
Publication year - 1971
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 - 10.2307/3180295
Subject(s) - irrigation , crop , production (economics) , agricultural engineering , economic model , environmental science , water resource management , mathematics , economics , geography , agronomy , microeconomics , forestry , engineering , biology
An economic model is developed for analysis of investments in irrigation. The model encompasses the associated problem of temporal allocation of limited irrigation water within the growing season of a single crop. The problem is placed in the framework of stochastic dynamic programming, and it is shown how the algebraic form of the production function for the crop determines the appropriate state variables of the decision process. An application of the model is made to conditions prevalent in Central Missouri with com the irrigated crop.