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Risk Management Potential of Precision Farming Technologies

Published online by Cambridge University Press:  28 April 2015

J. Lowenberg-DeBoer
J. Lowenberg-DeBoer*
Affiliation:
Department of Agricultural Economics, Purdue University, West Lafayette, Indiana
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Abstract

Initial ideas on risk management uses of precision agricultural technology focused on site-specific treatment of problem areas to reduce the probability of low yields and returns. Recent discussions deal with sensor and remote-sensing information to improve marketing and “as applied maps” as trace-back mechanisms to manage liability. A theoretical model is presented that suggests that there are plausible circumstances under which precision farming can reduce temporal yield variability. Empirical evidence from an on-farm trial of site-specific P&K management in the Eastern Cornbelt supports the hypothesis that precision farming can have risk-reducing benefits.

Keywords

food safetyGISGPScrop insurancemarketingprecision farmingsite specific managementrisk
Type
Invited Paper Sessions
Information
Journal of Agricultural and Applied Economics , Volume 31 , Issue 2 , August 1999 , pp. 275 - 285
Copyright
Copyright © Southern Agricultural Economics Association 1999

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