Risk management strategies using potato precision farming technology
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Stochastic dominance, stochastic dominance with respect to a function, and stochastic efficiency with respect to a function are used to compare late blight management strategies between a calendar spray schedule and a spray schedule recommended by Potato/Tomato Late Blight Decision Support System (DSS). Results show that the DSS recommended spray schedule is a more effective management strategy for controlling late blight in terms of disease control, net income over fungicide cost, and risk-adjusted net income. The value added by DSS ranges from $30 to $544 per acre. Our research contributes to the literature by providing a method to evaluate the economic benefits of adopting DSS.