Risk and the demand for supplemental irrigation: a case study in the Corn Belt
1980
Apland, J. | McCarl, B.A. | Miller, W.L.
Extract: Although cost-benefit studies have been used to explain the rapid adoption of irrigation in humid areas by exploring the impacts of prices, costs, and technology changes, no thorough analysis has been made of the impact of risk aversion on the demand by farm firms for supplemental irrigation. This study evaluates the implications of risk aversion for the derived demand for supplemental irrigation of corn using a case study approach.
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