Pecan growers can increase income by storing pecans if economically feasible storage technology is available. The marginal conditions under which growers would store pecans were derived. Revenue changes due to storage and impact of storage on price variations were simulated, suggesting the price that growers could pay for new storage technology.

The present article uses the modified Arkansas off-stream reservoir analysis and the environmental policy-integrated climate models to examine the impacts of on-farm reservoirs and tail water recovery systems in conjunction with other best management practices on profitability, water use, and sediment control for rice-soybean farming operations. Results suggest that, under limited water availability conditions, reservoirs and tail water recovery systems can improve profitability, reduce ground water dependence, and reduce the movement of sediment, nutrients, and pesticides off-farm. Although reservoirs may not be profitable under plentiful water conditions, cost-sharing opportunities may make them a viable means of addressing environmental concerns.

Profitability of using alternative protein sources in broiler feed is investigated through the development of a two-stage mathematical program that optimizes broiler production. A case study of peanut meal vs. soybean meal is examined. Value of marginal product concepts incorporated in this model permit analysis of demand adjustments before decisions on the production process occur. Given reported input and output prices, results indicate that soybean meal is generally more profitable than peanut meal. Peanut meal can be more profitable at higher dietary protein levels fed to broilers processed into whole carcass or at relatively higher prices for soybean meal.

Hog farmers' preferences for autonomy are assessed through the use of eight questions dealing with their preferences for general decision making and with respect to specific management actions. Farmers generally preferred to make a higher percentage of the decisions about their operations, especially older producers and those who operated farrowing units. Farmers who placed lower values on autonomy finished hogs, were nearing retirement, valued social relationships with other farmers more highly, had higher off-farm income, or were larger farmers.

A hedonic framework is used to analyze selected attributes of Louisiana deer hunting leases that are hypothesized to be significant contributors to lease value. The flexible Box-Cox functional form is used in contrast to the often utilized linear regression specification. Additionally, the hypothesis of regional differences in slope coefficients of lease attributes is addressed. Results indicate that hunters in the two analyzed regions value lease attributes and services differently.

Little research exists on the optimal temporal frequency between soil tests, given empirical data on potassium (K) carryover and its interaction with cotton yield. We evaluate how decreasing the temporal frequency between obtaining K soil test information affects the net present value (NPV) of cotton production. Monte Carlo simulation was used to determine NPV for cotton production using five soil test schedules ranging from soil testing annually to every fifth year. NPV of returns to K was maximized at $7,580/ac. when producers updated soil testing information every 2 years, which was $2/ac. per year greater than annual soil testing.

The Nariva Swamp on the island of Trinidad in the Caribbean is being degraded due to increasing human activity. However, its conservation is desirable, as it is an internationally recognized wetland. The study examined an ecotourism project, with an emphasis on community participation, as a conservation approach to the Swamp, via benefit–cost analysis, where the benefits of conservation were measured by contingent valuation. Contingent valuation showed that the residents of Trinidad were willing to pay an average of $56 for conserving the Swamp. The analysis also showed that ecotourism represents an economically feasible use of ecologically fragile resources of this wetland.

The generalized dynamic Rotterdam model was used in estimating U.S. demand for disaggregated catfish. The overall goal was to examine habit persistence in consumption and to determine the adjustment process in demand. Results indicated that it took up to 1 month for catfish-product demand to fully adjust to changes in expenditures and prices. Additionally, habit persistence played a role in demand where present consumption of a given product was positively affected by past consumption of that product. Consequently, U.S. catfish demand was significantly more elastic in the long-ran.

We present a demonstration of a Bayesian spatial probit model for a dichotomous choice contingent valuation method willingness-to-pay (WTP) questions. If voting behavior is spatially correlated, spatial interdependence exists within the data, and standard probit models will result in biased and inconsistent estimated nonbid coefficients. Adjusting sample WTP to population WTP requires unbiased estimates of the nonbid coefficients, and we find a $17 difference in population WTP per household in a standard vs. spatial model. We conclude that failure to correctly model spatial dependence can lead to differences in WTP estimates with potentially important policy ramifications.

Economic theory suggests that demand behavior is time variant, but does not offer much insight into the nature of the temporal variation. For practical purposes, at least two interpretations regarding the time behavior of demand relationships may be advanced.

We study the relationship between the off-farm labor decision and the limited-resource farmers' and spouses' off-farm wages, experience, education, and sources of income. We found that farmers' and spouses' off-farm experience and wages are significant factors in explaining the off-farm labor supply decision. Contrary to expectations, farm income variability is not significant in the farmers' and spouses' decision to seek off-farm work. The off-farm labor supply of farmers and their spouses is negatively correlated with income transfers from the government. It was also found that the spouse is a residual supplier of on-farm and off-farm labor.

Animal disease outbreaks can cause disruptions in domestic and international markets. Business continuity aims to provide a proactive approach to alleviate some of these negative effects on consumers, producers, and agribusinesses. Using a partial equilibrium model of the U.S. egg industry, the economic impacts of business continuity during an epidemiological simulated disease event are modeled. Results show total welfare losses can be reduced by allowing permitted movement during an outbreak given a specified level of biosecurity. Understanding the potential market responses business continuity can have on the market may lead to reductions in the negative implications of a disease event.

This paper investigates the motivations for local right-to-farm protection ordinances by estimating a logit model relating the adoption of these ordinances to various political, economic and demographic factors previously found to affect the likelihood of passage of farmland preservation policies. Results suggest that the probability of adopting right-to-farm policies increases with the size and political clout of the farm public and with incentives to promote right-to-farm. Adoption is not enhanced by environmental concerns, nor by factors known to encourage adoption of farmland preservation policies. These findings raise serious concerns about the long-run viability of protections afforded agriculture in urbanizing areas.

When consumers have heterogeneous perceptions about product quality, traditional parametric methods may not provide accurate marginal valuation estimates of a product's characteristics. A quantile regression framework can be used to estimate valuations of product characteristics when quality perceptions are not homogeneous. Semiparametric quantile regressions provide identification and quantification of heterogeneous marginal valuation effects across a conditional price distribution. Using purchase price data from a bull auction, we show that there are nonconstant marginal valuations of bull carcass and growth traits. Improved understanding of product characteristic valuations across differentiated market segments can help producers develop more cost-effective management strategies.

This study identified the factors that influenced whether farmers in theSoutheastern United States perceived an improvement in environmental qualityfrom adopting precision farming technologies (PFTs). Farmers with largerfarms or higher yields were more likely to believe that they observedpositive externalities associated with PFTs. Farmers who found PFTsprofitable or who believed input reduction was important had higherprobabilities whereas those with higher incomes or who were more dependenton farm income were less likely to perceive such benefits. Interestingly,the importance of environmental quality and length of time using PFTs werenot found to affect the probability of perceiving an improvement inenvironmental quality.

This study examines the relationship between agricultural profits and farm household wealth across locations and farm sizes in U.S. agriculture. A multiperiod household model is used to develop hypotheses for testing. Results indicate that farmland has out-performed nonfarm investments over the past decade. Thus, households may want to keep their farmland to build wealth, even if it requires them to earn off-farm income. The analysis implies that decision will be made based on farm household wealth factors having little to do with agriculture.

A survey of 1599 randomly selected Florida households was conducted in 2012 to evaluate the consumer characteristics and economic impacts of local food purchases through retail stores, restaurants, and direct-to-consumer market channels. The total annual value of local food purchases averaged $1114 per household and represented 20.1% of food purchased for at-home consumption. The total economic impacts of local food purchases in Florida were estimated at 183,625 jobs and $10.47 billion in value-added, including regional multiplier effects for agricultural production and wholesale and retail distribution. These values are significantly higher than found in previous studies in other states.

This study examines the rapidly expanding biofuels industry and identifies challenges for producer-owned biofuel projects. The U.S. ethanol industry has been growing rapidly, and biodiesel production is poised for similar growth. Producer involvement is driven by the desire to add value to farm commodities and the impact of biofuel projects on local grain prices. Local state and federal incentives have also stimulated producer interest. The long-run profitability of biofuel projects is driven by feedstock availability, access to market centers for biofuels, access to markets for coproducts, and utility costs and availability. The rapidly increasing size and scale of ethanol and biodiesel plants make it difficult for producers to fund these projects. Additionally, the development and adoption of new non-grain biofuel technologies may negate some comparative advantages of producers, such as feedstock cost and availability. The geographic expansion of biofuel projects into grain deficit regions will also create additional challenges.

A growing segment of society is concerned about a myriad of health and environmental issues related to the use of pesticides and other agricultural chemicals. Despite the leveling-off of agricultural chemical use in the 1980s, chemical use in agriculture has come to be seen as a two-edged sword. On the positive side, agricultural chemicals have become the engine for world-wide productivity gains. These chemicals have contributed to increased yields per acre and have reduced waste in storage and distribution. On the negative side, agricultural chemicals are perceived by many to present risks to the safety of the food we eat, to the quality of our drinking water, to the wildlife population, to applicators and to people who inadvertently come into point contact with them.

The economic impact of wildlife-associated recreation in the Southeast United States was evaluated using a general equilibrium model. Exogenous demand shocks to the regional economy were based on estimates of expenditures by wildlife recreationists on hunting, fishing, and wildlife watching activities. Counterfactual simulations were carried out, making alternative assumptions about labor and capital mobility and their supply. Without wildlife-associated recreation expenditures, regional employment would have been smaller by up to 783 thousand jobs, and value added would have been $22 to $48 billion less. These findings underscore the significance of regional factor market conditions in economic impact and general equilibrium analysis.