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Non-Parametric and Semi-Parametric Techniques for Modeling and Simulating Correlated, Non-Normal Price and Yield Distributions: Applications to Risk Analysis in Kansas Agriculture

Published online by Cambridge University Press:  28 April 2015

Allen M. Featherstone  and
Terry L. Kastens
Allen M. Featherstone
Affiliation:
Department of Agricultural Economics, Kansas State University, Manhattan, Kansas
Terry L. Kastens
Affiliation:
Department of Agricultural Economics, Kansas State University, Manhattan, Kansas
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Abstract

Parametric, non-parametric, and semi-parametric approaches are commonly used for modeling correlated distributions. Semi-parametric and non-parametric approaches are used to examine the risk situation for Kansas agriculture. Results from the model indicate that 2000 will be another difficult year for Kansas farmers, although crop income will increase slightly from 1999. However, unless another supplemental infusion of government payments occurs, crop income is expected to be the lowest since 1992.

Keywords

correlated distributionsnon-parametric modelingsemi-parametric modelingKansas agriculture
Type
Invited Paper Sessions
Information
Journal of Agricultural and Applied Economics , Volume 32 , Issue 2 , August 2000 , pp. 267 - 281
Copyright
Copyright © Southern Agricultural Economics Association 2000

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