000022119 001__ 22119
000022119 005__ 20180122202213.0
000022119 037__ $$a376-2016-20230
000022119 041__ $$aen
000022119 245__ $$aAN ECONOMIC ASSESSMENT OF THE WHOLE-FARM IMPACT OF PRECISION AGRICULTURE
000022119 260__ $$c2003
000022119 269__ $$a2003
000022119 270__ $$mkdolson@umn.edu$$pOlson,   Kent D.
000022119 300__ $$a12
000022119 336__ $$aConference Paper/ Presentation
000022119 446__ $$aEnglish
000022119 490__ $$aSelected Paper
000022119 520__ $$aThe full impact of an investment in a management information system (MIS), such as precision agriculture (PA), comes from improved managerial decision making throughout the whole farm and not just from improvements in a specific part of the farm.  This study was conducted to determine whether the adoption of PA had a positive impact on whole-farm profitability. To overcome problems of simultaneity and self-selection in the adoption decision of PA, this study used a two stage econometric model using data from farms in Southwest Minnesota. The PA adoption decision was evaluated in the first stage, and the impact of adopting PA was evaluated in the second stage. The whole farm rate of return to assets (ROA) was used to measure the impact of PA. For all 212 farms in the dataset, the adoption of precision agriculture was explained significantly (p<0.1) by two variables: positively by the farmer's self-described soil variability and negatively by the level of non-farm income. For the 63 crop farms in the dataset, adoption of PA was explained significantly (p<0.1) only by the farmer's self-described soil variability. The adoption of PA was estimated to have a significant (p<0.1) negative impact on ROA for the entire group of farms but was not significant when the farms were separated into crop farms only and into size clusters.  PA's lack of significance in explaining ROA in the subgroups may be due to small sample size, the variability of ROA itself, the lack of fully implementing PA as an MIS, differences in management ability, and the availability of other farming methods that are just as profitable as PA.
000022119 650__ $$aAgribusiness
000022119 6531_ $$aprecision agriculture
000022119 6531_ $$aeconomics
000022119 6531_ $$aadoption
000022119 6531_ $$aprofitability
000022119 700__ $$aOlson, Kent D.
000022119 700__ $$aElisabeth, Pascal
000022119 8564_ $$s148951$$uhttps://ageconsearch.umn.edu/record/22119/files/sp03ol01.pdf
000022119 887__ $$ahttp://purl.umn.edu/22119
000022119 909CO $$ooai:ageconsearch.umn.edu:22119$$pGLOBAL_SET
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  Previous issue date: 2003
000022119 982__ $$gAmerican Agricultural Economics Association>2003 Annual meeting, July 27-30, Montreal, Canada
000022119 980__ $$a376