Illinois Digital Environment for Access to Learning and Scholarship (University of Illinois at Urbana-Champaign) · 1986 · 20 citations · 14 references
Open access
AgricultureAgricultural EconomicsAgricultural EngineeringCrop ModelingCrop ProductionStochastic ModelingAgricultural Production EconomicsCrop SchedulingProduction ForecastingStochastic OptimizationStochastic ProgrammingYield PredictionAgricultural Production ForecastingClimate-driven Yield PredictionDynamic Production DecisionsDynamic Programming PrinciplesOptimal Climate SchedulingStochastic Programming In ProductionYield Simulation
This study addresses two major issues which have surfaced recently in the Agricultural Economics literature: 1) the need to model crop production in a dynamic framework, and 2) the need for a better understanding of the \neconomics of information. To address these issues a stochastic dynamic programming model of a single year's corn production process in east-central Illinois is developed. Improvements in information which are valued by the model are various climate forecast designs.
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Marshall Freimer, Richard Bellman, Stuart E. Dreyfus · Journal of the American Statistical Association · 1964 · 2.2K citations