The name is absent



per acre before application, rj, Table 2, were calcu-
lated based on the amount of active ingredient pre-
sent. Application cost, v, by aerial spray was set at
$3.25 per application, and an annual 13 percent
interest rate was assumed. Other cash costs and
noncash costs, listed in Table 3, were based on a 1989
Georgia soybean budget (Given and Mills).

Risk Efficiency Criteria

A risk efficient set of insecticides is determined by
producers’ aversion to risk. In situations with un-
known producer preferences, this risk efficient set is
based on various approximations of the probability
distributions associated with profit, yield, and dam-
age for each alternative insecticide. Numerous effi-
ciency criteria specifying restrictions on preferences
and probability distributions are prevalent in the
literature. For a discussion of these alternative effi-
ciency criteria refer to Wetzstein et al. One effi-
ciency criteria popular in agricultural economics
literature and employed for this study is stochastic
dominance analysis. A necessary condition for one

Table 2. Cost of Alternative Chemicals used in Field Experiments

Chemical_________________

Formulation3

Dosage (lb. Al∕acre)b

Cost per lb. Al

Cost per acre

Ambush

2E

0.1

$45.50

$4.55

Asana XL

0.66E

0.03

150.00

4.5

Baythroid

2EC

0.015

125.33

1.88

Cymbush

3E

0.04

90.25

3.61

Karate

1EC

0.015

190.00

2.85

M. Parathion

4E

0.5

4.50

2.25

Orthene

75S

0.75

9.47

7.10

Penncap M

2FM

0.5

8.80

4.40

Scout Xtra_______________

0.9EC

0.016_________

244.38

3.91 _____

aEC, S, FM, and E denote emulsifiable concentrate, sprayable, flowable, and emulsifiable, respectively.
bAI denotes active ingredient.

Table 3. Per Acre Soybean Costs Excluding Insecticide Costs

Category______________________

_______Unit________

_______Price I Unit

No. of Units

Cost/Acre

Cash ∞sts

Seed (including inoculant
and fungicide)

bu.

13.00

0.80

$10.40

Lime

ton

22.00

0.33

7.26

Fertilizer

Phosphate (P2O3)

Potash (K2O)

lb.
lb.

0.25

0.15

45.00

90.00

11.25

13.50

Herbicides

appl.

20.00

1.00

Insect Control

Scouting (for season)

acre

3.00

1.00

3.00

Machinery
Fuel

Repair and maintenance

gal.
acre

0.75

20.00

10.00

1.00

7.50

20.00

Machinery tax
and insurance

acre

3.00

1.00

3.00

Land rent

acre

20.00

1.00

20.00

Interest on operating
capital3

0.13

Noncash costs

Machinery: Depreciation
average investment, and
housing

acre

35.00

1.00

35.00

Unpaid family labor_______________

__________hr.___________

_________5.50________

2.50

13.75

aInterest on operating capital is calculated based on the total of cash costs other than insecticides for a duration of six
months.

86



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