EFFECTS ON A CORN-SOYBEAN FARM OF UNCERTAINTY ABOUT THE FUTURE OF FARM PROGRAMS

被引：2

作者：

DUFFY, PA

TAYLOR, CR

机构：

[1] Department of Agricultural Economies and Rural Sociology, Auburn University, AL

来源：

AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS | 1994年 / 76卷 / 01期

关键词：

DYNAMIC PROGRAMMING; FARM PROGRAMS; UNCERTAINTY;

D O I：

10.2307/1243928

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

Dynamic programming techniques are used to evaluate effects of uncertainty about continuation of farm programs on planting decisions during the last year of the 1990 Farm Bill. Results indicate farm-level decisions are affected by uncertainty only when the farmer's subjective probability of the continuation of farm programs is very low. The optimal value functions in different versions of the model can also be used to estimate the implicit value of base acreage.

引用

页码：141 / 152

页数：12

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