Abstract
The purpose of this research is to quantify the value of being different than the local average and feasibility of distinguishing particular parts of an operation from the local average. Kansas crop farms are broken down by their farm characteristics, production practices, and management performances. An ordinary least squares regression model is used to quantify the value of having different than average characteristics, practices, and management performances. The degree farms have distinguished particular parts of their operations from the average, and how consistently they distinguish their cost, yields, and prices from the average are also analyzed. Farms’ relative size, workers per acre, planting intensity, machine costs, yields, and prices are all significantly related to farm relative performance. Farms’ characteristics are generally more different from one another than their production practices and management performances, while over time farms’ relative cost management performances are more consistent than their relative yield and price management performances.
Recommended Citation
Morris, Cooper; Dhuyvetter, Kevin; Yeager, Elizabeth A.; and Regier, Greg
(2018)
"The Value and Feasibility of Farming Differently Than the Local Average,"
Journal of Applied Farm Economics: Vol. 2
:
Iss.
1,
Article 2.
DOI: 10.7771/2331-9151.1008
Available at:
https://docs.lib.purdue.edu/jafe/vol2/iss1/2
Included in
Agribusiness Commons, Management Sciences and Quantitative Methods Commons, Strategic Management Policy Commons