Stochastic Valuation of Hybrid Rice Technology in Arkansas
| dc.creator | Lyman, Nathaniel | |
| dc.creator | Nalley, Lawton Lanier | |
| dc.date | 2017-04-01T19:28:24Z | |
| dc.date.accessioned | 2026-07-09T06:46:29Z | |
| dc.description | Despite the rapid producer adoption of hybrid rice (Oryza sativa L.) in recent years, the economic advantage of hybrid rice in the mid-Southern United States remains disputed. This study compares the economic risk and return of three popularly sown hybrid rice varieties: XL723, Clearfield® (CL) XL729, and CL XL745; and eight conventional rice varieties: Cheniere, CL 142-AR, CL 151, Francis, Roy J, Taggart, Templeton, and Wells; using University of Arkansas experimental test plot data from 2006 – 2010. Paddy and milling yield data on each variety are used to estimate a Just-Pope production function, allowing comparison of mean yields and mean yield variances across varieties. A Monte Carlo simulation is used to compare net returns and net return variance (risk) across hybrid and conventional varieties. Just-Pope estimation results indicate that hybrid varieties exhibit mean paddy yield premiums of 1.1 to 1.8 Mg ha-1 relative to the best performing conventional variety (Francis), furthermore the hybrid yield advantage is not associated with increased yield risk. Among hybrid-CL® and conventional-CL®, varieties, hybrid milling quality is not statistically different than conventional varieties. Among non-CL varieties, the hybrid XL723 exhibits a mean head rice yield (HRY) premium relative to conventional alternatives. Monte Carlo simulation results suggest that the net revenue advantage of hybrid-CL and conventional-CL® varieties makes them preferable to and non-CL conventional alternatives, respectively, across the entire range of producer risk preferences considered in this study. | |
| dc.identifier | doi:10.22004/ag.econ.142505 | |
| dc.identifier | https://ageconsearch.umn.edu/record/142505/files/lymanNalleySAEA2013.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/142505 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/580662 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/142505 | |
| dc.title | Stochastic Valuation of Hybrid Rice Technology in Arkansas | |
| dc.type | Text |