McCarl, Bruce A.

December, 2000

By: Chen, Chi-Chung; McCarl, Bruce A.
The agricultural value of El Nino-Southern Oscillation (ENSO) phase knowledge is measured in a value-of-information framework using economic models. We examine the value of considering the full distribution of ENSO phase strength effects as opposed to average ENSO phase strength effects, as well as the implications of considering ENSO impacts on the rest of the world (ROW). A stochastic U.S. agricultural sector model linked with a global trade model is used to assess the value of ENSO phase information. When the full distribution of ENSO phase strength is considered, the value of phase information increases twofold with respect to the average ENSO effects.

July, 1998

By: Keplinger, Keith O.; McCarl, Bruce A.; Chowdhury, Manzoor E.; Lacewell, Ronald D.
A dry year irrigation suspension has been proposed as a way of reallocating water when aquifer levels are low for the Texas Edwards Aquifer. Under this program, farmers would be paid to suspend irrigation to allow more spring flow or nonagricultural pumping. When irrigation is suspended in the east, springflow response is markedly larger than when suspended in the western portions of the aquifer. Most acreage participates when a $90 per acre payment is offered before the cropping season. Considerably higher payments are needed and less water saved for a suspension program instituted during the cropping season.