Effect of Late Season Precipitation on Cotton Yield
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Recent changing climate causes reduction in yield. We estimate impact of drought and wet climate on mean, variance, upside and downside risk of Mississippi county level cotton yield data using Moment Based Maximum Entropy framework of Tack et al. (2012). Results suggest that mean effects are rather small, but there is a considerable reallocation of risk across the tails of the distribution. Results will inform producers risk management.