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Nick Paulson

Other affiliations: Iowa State University
Bio: Nick Paulson is an academic researcher from University of Illinois at Urbana–Champaign. The author has contributed to research in topics: Crop insurance & Revenue. The author has an hindex of 12, co-authored 187 publications receiving 736 citations. Previous affiliations of Nick Paulson include Iowa State University.


Papers
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TL;DR: In this paper, the authors discuss some of the recent contributions made in the evolving theoretical and empirical literature on spatial econometric methods for panel data and illustrate some of these tools within a climate change application using a hedonic model.
Abstract: Panel data are used in almost all subfields of the agricultural economics profession. Furthermore, many research areas have an important spatial dimension. This article discusses some of the recent contributions made in the evolving theoretical and empirical literature on spatial econometric methods for panel data. We then illustrate some of these tools within a climate change application using a hedonic model of farmland values and panel data. Estimates for the model are provided across a range of nonspatial and spatial estimators, including spatial error and spatial lag models with fixed and random effects extensions. Given the importance of location and extensive use of panel data in many subfields of agricultural economics, these recently developed spatial panel methods hold great potential for applied researchers.

43 citations

Posted ContentDOI
TL;DR: In this paper, a stochastic production relationship between yield and soil nitrate is estimated using experimental data, and numerical results show that input uncertainty may cause farmers to overapply nitrogen.
Abstract: The production literature has shown that inputs such as fertilizer can be defined as riskincreasing. However, farmers also consistently overapply nitrogen. A model of optimal input use under uncertainty is used to address this paradox. Using experimental data, a stochastic production relationship between yield and soil nitrate is estimated. Numerical results show that input uncertainty may cause farmers to overapply nitrogen. Survey data suggest that farmers are risk averse, but prefer small chances of high yields compared to small chances of crop failures when expected yields are equivalent. Furthermore, yield risk and yield variability are not equivalent.

36 citations

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TL;DR: This article developed a simulation framework to evaluate the bias and efficiency impacts of copula choice in the context of evaluating county-to-farm basis risk and found significant differences in performance across various copulas and approaches.

27 citations

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TL;DR: This paper investigated the determinants of agricultural marketing contract design employing data from the USDA's Agricultural Resource Management Survey and found that while certain producer characteristics are significantly associated with the decision to produce corn or soybeans under contract, there is no significant association between those characteristics and specific contract attributes.
Abstract: Contracts serve as coordination mechanisms which allocate value, risk, and decision rights across buyers and sellers. The use of marketing contracts in agriculture, specifically for crop production, has been increasing over the past decade. This study investigates the determinants of agricultural marketing contract design employing data from the USDA's Agricultural Resource Management Survey. Models are estimated to analyze the association between producer and contractor characteristics, the decision to produce under contract, and the types of contract structures observed in practice, while controlling for the potential for endogenous matching between contracting parties. Results indicate that while certain producer characteristics are significantly associated with the decision to produce corn or soybeans under contract, there is no significant association between those characteristics and specific contract attributes.

27 citations

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TL;DR: In this paper, the authors examined the effect of heterogeneous landowners' risk and time preferences and land quality on the optimal mix and equilibrium terms of these contracts, which jointly maximize the net benefits of the refinery and landowners in a region; this has implications for the extent to which energy crop production is likely to be vertically integrated or independently contracted by a biorefinery.
Abstract: Long-term contracts are likely to be critical to induce the production of perennial energy crops as a feedstock for the emerging cellulosic biofuel industry. This paper develops a framework to analyze the determinants of landowner choice among a land-leasing contract, a fixed-price contract, and a revenue-sharing contract for energy crop production. We examine the effect of heterogeneous landowners' risk and time preferences and land quality on the optimal mix and equilibrium terms of these contracts, which jointly maximize the net benefits of the refinery and landowners in a region; this has implications for the extent to which energy crop production is likely to be vertically integrated or independently contracted by a biorefinery. We find that the refinery can potentially earn a higher profit by offering a choice of these three types of contracts rather than a single type of contract only; by allowing self-selection of contract type based on landowner risk and time preferences, the contractual terms needed to induce production of energy crops are reduced. Although it is optimal for vertically-integrated and contracted production to co-exist, we find that the share of the former is predominant across a range of assumptions about the distribution of risk preferences, time preferences, and relative riskiness of conventional and energy crop production. We also find that the impact of having multiple contract types to choose from on landowners' welfare is ambiguous.

26 citations


Cited by
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6,278 citations

Journal ArticleDOI
TL;DR: It is concluded that multiple Imputation for Nonresponse in Surveys should be considered as a legitimate method for answering the question of why people do not respond to survey questions.
Abstract: 25. Multiple Imputation for Nonresponse in Surveys. By D. B. Rubin. ISBN 0 471 08705 X. Wiley, Chichester, 1987. 258 pp. £30.25.

3,216 citations

Journal ArticleDOI
TL;DR: In this article, the economic potential and environmental implications of second-generation bio-fuels from a variety of various feedstocks were reviewed, and it was shown that cost is a major barrier to increasing commercial production in the near to medium term.

443 citations

Journal ArticleDOI
TL;DR: A thorough analysis of recent biotechnological progress is presented in the context of present technological challenges and future developmental opportunities aimed at bringing the enzyme costs down and improving the overall process economics towards large scale production of enzymatic biodiesel.

410 citations

Book
23 Jan 2012
TL;DR: In this article, the authors focus on the Renewable Fuel Standard (RFS) and its implementation, and outline some of the emerging issues related to the sustainability of the continued growth in U.S. biofuels production needed to fulfill the expanding RFS mandate, as well as the emergence of potential unintended consequences.
Abstract: This report focuses specifically on the Renewable Fuel Standard (RFS). It describes the general nature of the biofuels RFS and its implementation, and outlines some of the emerging issues related to the sustainability of the continued growth in U.S. biofuels production needed to fulfill the expanding RFS mandate, as well as the emergence of potential unintended consequences of this rapid expansion. This report does not address the broader public policy issue of how best to support U.S. energy policy.

314 citations