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- Title
Technology choice under changing peanut policies.
- Authors
Price, T. Jeffrey; Lamb, Marshall C.; Wetzstein, Michael E.
- Abstract
The effect of marketing quotas and price supports on technology adoption are examined for peanut production in the southeastern United States using a real options model of investment with output price and yield uncertainty. The optimal choice of peanut production technology (dryland versus irrigated) in the southeast is shown to depend on price supports and how they change. The manner in which price supports change will have an effect on the choice and rates of abandonment or adoption of production technologies.
- Subjects
UNITED States; AGRICULTURAL productivity; SALES quotas; PEANUT industry; LEGUME industry; REAL options (Finance); OPTIONS (Finance)
- Publication
Agricultural Economics, 2005, Vol 33, Issue 1, p11
- ISSN
0169-5150
- Publication type
Article
- DOI
10.1111/j.1574-0862.2005.00233.x