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Abstract

This poster summarizes work on developing a direct and indirect risk preference function to represent producers who make acreage decisions. Risk is depicted as a constraint which producers face when making acreage decisions. A dual to the acreage decision problem is set up and used to obtain a indirect risk function. Derivative properties of the function are used to specify acreage equations. Sample acreage equations are estimated, using county level data for corn, wheat, and soybeans producers.

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