Archive.uky.edu: IMPROVING FARM MANAGEMENT DECISIONS BY ANALYZING SITE-SPECIFIC ECONOMIC DATA DEVELOPED FROM YIELD MAPS

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Please use this identifier to cite or link to this item: http://hdl.handle.net/10225/59

Title:	IMPROVING FARM MANAGEMENT DECISIONS BY ANALYZING SITE-SPECIFIC ECONOMIC DATA DEVELOPED FROM YIELD MAPS
Authors:	Powers, Laura A.
Keywords:	Precision Agriculture Farm Management Risk Aversion Decision Making
Date Created:	2002
Publisher:	University of Kentucky
Abstract:	This thesis examines the use of precision agriculture data, specifically yield maps, for making site-specific economic decisions for improved farm management. The adoption of precision agriculture on farms has allowed producers to collect a greater quantity and more specific information about production than ever before. With such information, site-specific decisions can be made. Incorporating economic data with yield map data, two primary decision examples are developed: defining areas of production and nonproduction and managing temporal risk spatially across a field. Included with the production/ nonproduction decision are the effects that land tenure arrangements and risk aversion levels have on the decision. The risk maps are developed using break-even analysis, the coefficient of variation, and a mean-variance framework, all based on a twenty year average of temporal net returns, measured spatially. The risk maps are repeated incorporating a crop insurance option, a commonly used risk management tool. Results show that developing these maps can be used by agricultural producers to help with their decision making. By incorporating these maps into the decision-making process, decisions can be made to increase farm profitability.
URI:	http://hdl.handle.net/10225/59
Appears in Collections:	Electronic Theses and Dissertations

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