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Journal of Agricultural and Applied Economics >
Volume 37, Number 01, April 2005 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/43720
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| Title: | Per Unit Costs to Own and Operate Farm Machinery |
| Authors: | Beaton, Aaron J.
Dhuyvetter, Kevin C.
Kastens, Terry L.
Williams, Jeffery R. |
| Keywords: | benchmark
custom rates
custom work
entropy
jackknife
machinery costs |
| JEL Codes: | Q10
Q12
C51
C60 |
| Issue Date: | 2005-04 |
| Abstract: | With increasingly thin margins and new technologies, it is important that farm managers know their cost of field operations on a per unit basis (e.g., acre, ton, bale). Accurate per unit costs give confidence when constructing enterprise budgets and evaluating new technologies, such as no-till. Custom rates are often used as a proxy for per unit costs; however, this research, using entropy and jackknife estimation procedures, found that custom rates understate total ownership and operating costs by approximately 25% for an average Kansas farm. Estimates from these models are then used to benchmark actual costs against expected cost. |
| URI: | http://purl.umn.edu/43720 |
| Institution/Association: | Journal of Agricultural and Applied Economics>Volume 37, Number 01, April 2005 |
| Total Pages: | 14 |
| From Page: | 131 |
| To Page: | 144 |
| Collections: | Volume 37, Number 01, April 2005
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Size | Format |
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| 131-144.pdf | | 1051Kb | PDF | View/Open |
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