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The Influence of Risk Arising from Weather Variability on the Optimal Nitrogen Fertilization Level of Corn

K. Frohberg and C. R. Taylor
Illinois Agricultural Economics
Vol. 15, No. 2 (Jul., 1975), pp. 23-26
DOI: 10.2307/1348870
Stable URL: http://www.jstor.org/stable/1348870
Page Count: 4
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The Influence of Risk Arising from Weather Variability on the Optimal Nitrogen Fertilization Level of Corn
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Abstract

The rates of nitrogen fertilizer which maximize expected profit subject to a risk constraint are presented for seven experimental fields in Illinois. The risk arising from the influence on yield response to nitrogen of rainfall and temperature during the May 20 to August 23 period was statistically estimated from experimental data for the years 1967-73 and weather variability. The risk constraint is defined in terms of not recovering the cost of the nitrogen fertilizer. Two levels of risk are considered: a loss in one year out of 100 and a loss in one year out of 20. Under present nitrogen: corn price ratios, neither is binding.

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