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The Opportunity Cost of Protecting Cropping History

Published online by Cambridge University Press:  28 April 2015

R. Lynn Harwell  and
P. Leo Strickland
R. Lynn Harwell
Affiliation:
Farm Production Economics Division, Economic Research Service, USDA, Oklahoma State University, Stillwater
P. Leo Strickland
Affiliation:
Farm Production Economics Division, Economic Research Service, USDA, Oklahoma State University, Stillwater
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Extract

Farmers are continually faced with the necessity to make farm management decisions which have economic consequences. Often the situation occurs wherein the farmer has little information upon which to base a decision. The situation may be forced on the farmer so that a no action decision also has economic importance. Also, as is the case in a dynamic society, a decision made now can have repercussions in years to come.

For many years, some type of government farm program has been in effect for many farm commodities. Most of these programs have been designed so that a farmer's decision to participate could be made on a year to year basis. Production decisions could be made independently with a decision not to participate in a given year having no effect on the choice or level of participation available in subsequent years.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 4 , Issue 1 , July 1972 , pp. 209 - 213
Copyright
Copyright © Southern Agricultural Economics Association 1972

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References

[1]Gibson, W. L. Jr., Arnold, C. J. and Aigner, F. D.. The Marginal Value of Flue-Cured Tobacco Allotments. Virginia Polytechnic Institute Agr. Exp. Stat. Technical Bulletin No. 156, 1962.Google Scholar
[2]Hopkins, C. O. “Optimum Farm Organizations of Representative Irrigated Farms in Southwestern Oklahoma,” unpublished. M.S. thesis, Oklahoma State University, 1969.Google Scholar
[3]Meharg, J. R. “The Influence of Alternative Price and Allotment Programs on Farm Organization and Income for Irrigated Fine Textured Soils in the High Plains of Texas,” unpub. M.S. thesis, Texas A&M University, 1964.Google Scholar