American Journal of Agricultural Economics · 1971 · 65 citations · 7 references
AgricultureAgricultural EconomicsWater Resources ManagementCrop ProductionIrrigation EngineeringIrrigation ManagementAgricultural Production EconomicsIrrigated Cropping SystemsIrrigationIrrigation EconomicsIrrigation SchedulingIrrigation SystemsAllocationCrop Water Demand ModelingIrrigation System InvestmentIrrigation System ModelingIrrigation System OptimizationIrrigation Water EconomicsState VariablesStochastic Dynamic Programming
Abstract An economic model is developed for analysis of investments in irrigation. The model encompasses the associated problem of temporal allocation of limited irrigation water within the growing season of a single crop. The problem is placed in the framework of stochastic dynamic programming, and it is shown how the algebraic form of the production function for the crop determines the appropriate state variables of the decision process. An application of the model is made to conditions prevalent in Central Missouri with com the irrigated crop.
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