Value of Information on Crop Response Function to Soil Salinity in a Farm-Level Optimization Model, The
May 1991 [91-WP 74]
The study investigates the value of additional information on the response function to soil salinity of a given crop (potatoes), with regard to a stochastic long-run optimization model for utilization of saline water to a single farm framework. The analysis provides a conceptual and methodological framework for investigating the expected value of sample information (DVSI), as well as an efficient tool for empirical application. Although a few approximations have been used, the results provide an estimate of EVSI and indicate the need for additional information.
Keywords: value of information, loss function, crop-response function, soil salinity, optimization model.
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