Economics and Management of Risk in Agriculture and Natural Resources
Annual Meeting of SERA-IEG-31
Gulf Shores State Park,
Gulf Shores, Alabama
March 22-24, 2001
A Comprehensive Assessment of the Role in Risk in Agriculture
March 22 - Thursday
March 23 - Friday
- Reception for program participants and attendees.
- Welcome and Introductions
- Part I. Behavior Under Risk: Conceptual Foundations and Their Significance for Agriculture.
- Jack Meyer, Expected Utility as a Paradigm for Decision Making in Agriculture.
- David Buschena, Non-expected Utility: What do the Anomalies Mean for Risk in Agriculture?
- Jean-Paul Chavas, The Meaning and Significance of Imperfect Markets in Agriculture.
- David Hennessy and Brent Hueth, Conceptual Foundations of Contracting in Agriculture.
10:15 - 10:30 Break
10:30 - 12:00
- Part II. Standard Methodological Approaches and Their Applicability for Agriculture.
- Robert Taylor, Programming Methods for Risk Efficient Choice.
- Matt Holt, Econometric Approaches for Risk Analysis.
- Richard Just and Gordon Rausser, Conceptual Foundations of Expectations and Related Econometric Issues.
12:00 - 1:15 pm Lunch
1:15 - 3:15
- Part III. Alternative Methodological Approaches for Risk Analysis.
- Robert Chambers and John Quiggin, The Case for State Dependence.
- Rulon Pope and Atanu Saha, Can Indirect Approaches Represent Risk Issues Adequately?
- Lindon Robison and Bob Myers, Discrete Comparisons and Nonparametric Approaches.
- Alan Randall and Brian Roe, Contingent Valuation as an Approach for Agricultural Risk Analysis.
3:15 - 3:30 Break
3:30 - 5:30
- Part IV. Sources and Consequences of Agricultural Risk.
- Barry Goodwin, Modeling Price and Yield Risk.
- Michele C. Marra and Gerald. A. Carlson, Agricultural Technology and Risk.
- Michael Roberts and Nigel Key, Does Liquidity Matter to Agricultural Production? How Transitory Yield Shocks Influence Subsequent Plantings.
- J.A. Larson, B.C. English, and R K. Roberts, Does Risk Matter in Precision Farming? A Case Study Analysis for Variable Rate Application of Nitrogen on Corn.
March 24 - Saturday
8:45 - 10:15 am
- Part V. Tools for Managing Agricultural Risks.
- Keith Coble and Tom Knight, Crop Insurance as a Tool for Price & Yield Risk.
- Peter Barry, Credit Risk Measurement and Management in Agriculture.
- David Zilberman, Risk Management and the Environment.
10:15 - 10:30 Break
10:30 - 11:30
- Part VI. Policy Issues Relating to Risk in Agriculture.
- Joe Glauber and Keith Collins, The Case for Government Safety Nets and Disaster Payments.
- Bruce Gardner, Policy Risk Faced by Farmers: Is it Important and Should It Be Considered By Policy Makers?
11:30 - 12:00
- Part VII. Conclusions Regarding the Significance of Risk Research for Agriculture.
- Wes Musser and George Patrick, How Much Does Risk Really Matter to Farmers?
12:00 - 12:30
- Richard Just and Rulon Pope, Summary and Conclusions.