Globally Flexible Modeling of County-Level Acreage Response for Primary U.S. Field Crops
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This study takes the standard acreage response model that stems from an expected utility framework, accounting for both price and yield variability, and nests it within a flexible semi-nonparametric (SNP) model consistent with farm-level decision models for computationally tractable results. We use county-level data to estimate the response of farmers’ planting preferences to changes in revenue and other variables.