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Please use this identifier to cite or link to this item:
http://purl.umn.edu/103949
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| Title: | A Dynamic Optimal Crop Rotation Model in Acreage Response |
| Authors: | Cai, Ruohong
Bergstrom, John C.
Mullen, Jeffrey D.
Wetzstein, Michael E. |
| Keywords: | Crop rotation
Acreage response
Bellman equation |
| Issue Date: | 2011-05-04 |
| Series/Report no.: | Faculty Series
11-02 |
| Abstract: | This paper presents a dynamic crop rotation model that shows how crop yield and price volatility could impact crop mix and acreage response under crop rotation considerations. Specifically, a discrete Markov decision model is utilized to optimize producers’ crop rotation decision within a finite horizon. By maximizing net present value of expected current and future profits, a modified Bellman equation helps develop optimum planting decisions. This model is capable of simulating crop rotations with different lengths and structures. Specifically, the corn-soybeans rotations were simulated using the crop rotation model. |
| URI: | http://purl.umn.edu/103949 |
| Institution/Association: | University of Georgia>Department of Agricultural and Applied Economics>Faculty Series |
| Total Pages: | 30 |
| Collections: | Faculty Series
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Size | Format |
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| FS11-02.pdf | | 311Kb | PDF | View/Open |
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