Submitted to: Book Chapter
Publication Type: Book / Chapter
Publication Acceptance Date: 6/9/2005
Publication Date: 9/1/2005
Citation: Archer, D.W. 2005. Weeding out economic impacts of farm decisions. In: Hatfield, J.L., editor. The Farmer's Decision. Ankeny, IA: Soil and Water Conservation Society. p. 63-75. Interpretive Summary: Decisions made at the farm level can have both environmental and economic effects. There is potential to achieve both environmental and economic benefits through improved decision making at the farm level. Understanding the relationships between management decisions and farm-level profit provides insights into the incentives producers have for enhanced decision making and how enhanced decision making can affect farm profitability. A broad overview of the relationships between management decisions and farm-level profit is provided using examples from research findings. This research will be useful to researchers, policy makers, consultants, extension personnel and farmers in identifying the best ways to enhance farm- level decision making to achieve economic and environmental benefits.
Technical Abstract: A broad overview of the relationship between management decisions and farm-level profit is provided using examples from research findings. The overview includes the direct productivity impacts of management decisions, timeliness issues, the importance of flexibility and information use in farm management, the effects of financial considerations, and farmer characteristics. Based on previous research findings, implications for emerging technologies and challenges for improving farm management decisions are discussed.