Farm-level economic impacts of the House of Representatives Farm Bill Proposal, H.R. 2646, and the Senate Farm Bill Proposal, S. 1731, for representative rice farms /
The agricultural economy in recent years has been in a steady decline and has shown an express need for reform of government policy pertaining to it. Particularly, the rice industry has been plagued with not only steadily decreasing prices but also increased costs of production. The primary object...
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| Format: | Thesis eBook |
| Language: | English |
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[Place of publication not identified] :
[publisher not identified] ;
2002.
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| Subjects: | |
| Online Access: | Link to OAKTrust copy |
| Summary: | The agricultural economy in recent years has been in a steady decline and has shown an express need for reform of government policy pertaining to it. Particularly, the rice industry has been plagued with not only steadily decreasing prices but also increased costs of production. The primary objective of this research is to assess the farm level economic implications of the House of Representatives and the Senate farm bill proposals on representative rice farms from six different rice-producing states for the years 2001-2010. A whole farm computer simulator (FLIPSIM) was used to simulate the economic activity of 17 representative rice farms from six different rice-producing states operating under two farm bill proposals, H.R. 2646 and S. 1731. The two scenarios were ranked as to the preference of each farm's manager using three methods for ranking risky scenarios: averages of key output variables, CDFs of average annual net cash farm income and certainty equivalents. The results as to preference between the two bills are inconclusive using the first two methods. However, preference can be determined for each farm whether the farm manager is risk loving, neutral or risk averse, using certainty equivalents to rank risky scenario ranking. Using this method it was determined that if the farm managers were risk loving, 12 of the 17 farm managers would prefer farming under H.R. 2646 over farming under S. 1731. The smaller farm managers would choose to farm under the Senate bill as opposed to the House bill if the farm managers were risk loving. Seven farm managers would prefer a risk free investment over farming under either of the farm policies if the farm manager was risk averse. Eight of the 17 risk averse farm managers would chose to farm under H.R. 2646 over either a risk free investment or farming under the Senate bill. Only two risk averse rice farm managers would prefer to operate under S. 1731 over a risk free investment and farming under H.R. 2646. |
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| Item Description: | "Major subject: Agricultural Economics". In title numerals are used. Vita. |
| Physical Description: | xii, 105 leaves : illustrations ; 28 cm. Also available online. Issued also on microfiche from Lange Micrographics. |
| Bibliography: | Includes bibliographical references (leaf 104). |