The economic value of farm program base


Journal Article

Mixed integer programming and dynamic programming models were used to obtain the implicit economic value of the initial endowment of base acreage on a cotton farm. While low levels of initial base have almost no impact on land value, high levels can be worth a considerable premium, with the implicit value of additional initial base endowment increasing at an increasing rate. This pattern of increasing implicit value can be explained by provisions of the farm program allowing base to be created by a landowner who develops a planting history in a program commodity. -Authors

Full Text

Duke Authors

Cited Authors

  • Duffy, PA; Taylor, CR; Cain, DL; Young, GJ

Published Date

  • January 1, 1994

Published In

Volume / Issue

  • 70 / 3

Start / End Page

  • 318 - 329

International Standard Serial Number (ISSN)

  • 0023-7639

Digital Object Identifier (DOI)

  • 10.2307/3146532

Citation Source

  • Scopus