{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/69866"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/69866","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"Dynamic Programming Model of the Corn Production Decision Process With Stochastic Climate Forecasts (Information, Illinois)","abstract":"This study addresses two major issues which have surfaced recently in the Agricultural Economics literature: (1) the need to model crop production in a dynamic framework, and (2) the need for a better understanding of the economics of information. To address these issues a stochastic dynamic programming model of a single year's corn production process in east-central Illinois is developed. Improvements in information which are valued by the model are various climate forecast designs.","abstract_html":"This study addresses two major issues which have surfaced recently in the Agricultural Economics literature: (1) the need to model crop production in a dynamic framework, and (2) the need for a better understanding of the economics of information. To address these issues a stochastic dynamic programming model of a single year's corn production process in east-central Illinois is developed. Improvements in information which are valued by the model are various climate forecast designs.","abstract_has_math":false,"creators":["Mjelde, James William"],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Agricultural Economics","degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2014,"date_issued":"2014-12-15T20:29:00Z","date_published":"2014-12-15T20:29:00Z","updated_at":"2026-07-22T22:26:01Z","subjects":["Economics, Agricultural"],"languages":[],"rights":[],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["(UMI)AAI8600269"],"render_values":[{"text":"(UMI)AAI8600269","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/69866","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:creator","label":"Author","values":["Mjelde, James William"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2014-12-15T20:29:00Z","10000-01-01","1985"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Agricultural Economics"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Economics, Agricultural"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["http://hdl.handle.net/2142/69866","(UMI)AAI8600269"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["This study addresses two major issues which have surfaced recently in the Agricultural Economics literature: (1) the need to model crop production in a dynamic framework, and (2) the need for a better understanding of the economics of information. To address these issues a stochastic dynamic programming model of a single year's corn production process in east-central Illinois is developed. Improvements in information which are valued by the model are various climate forecast designs.","Development of the dynamic programming model entailed the synthesis of a crop growth simulation model and a nitrogen-climate interaction model to obtain a synthetic data set used in estimation of a corn production function. The dynamic programming model contains eight stages of production within a single year. As many as sixty decision alternatives are available to the decision maker at some of the stages.","The results of this study indicate that there is a potential for both perfect and imperfect forecasts to have value to a corn producer. The value of any climate forecast is depended not only on the economic scenario (corn price, input costs and interest rate), but also the design of the climate forecast. Design parameters considered are lead time, accuracy of the forecasts, weather parameters to be included in the forecast, identification of the most important periods, spatial resolution, number of climatic conditions to be forecast, and length of the period which is being forecast. Evaluation of these design parameters provides a better understanding of the relationships between the determinants of information value and the expected value of the information.","Made available in DSpace on 2014-12-15T20:29:00Z (GMT). No. of bitstreams: 1 8600269.pdf: 10259531 bytes, checksum: d01d56ee75d03b5b52cd963a888c6abd (MD5) Previous issue date: 1985","Embargo set by: Seth Robbins for item 70032 Lift date: Forever Reason: Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","U of I Only","280 p.","Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1985."]},{"key":"dc:title","label":"Title","values":["Dynamic Programming Model of the Corn Production Decision Process With Stochastic Climate Forecasts (Information, Illinois)"]}]}],"canonical_facts":{"dc:creator":["Mjelde, James William"],"dc:date":["2014-12-15T20:29:00Z","10000-01-01","1985"],"dc:description":["This study addresses two major issues which have surfaced recently in the Agricultural Economics literature: (1) the need to model crop production in a dynamic framework, and (2) the need for a better understanding of the economics of information. To address these issues a stochastic dynamic programming model of a single year's corn production process in east-central Illinois is developed. Improvements in information which are valued by the model are various climate forecast designs.","Development of the dynamic programming model entailed the synthesis of a crop growth simulation model and a nitrogen-climate interaction model to obtain a synthetic data set used in estimation of a corn production function. The dynamic programming model contains eight stages of production within a single year. As many as sixty decision alternatives are available to the decision maker at some of the stages.","The results of this study indicate that there is a potential for both perfect and imperfect forecasts to have value to a corn producer. The value of any climate forecast is depended not only on the economic scenario (corn price, input costs and interest rate), but also the design of the climate forecast. Design parameters considered are lead time, accuracy of the forecasts, weather parameters to be included in the forecast, identification of the most important periods, spatial resolution, number of climatic conditions to be forecast, and length of the period which is being forecast. Evaluation of these design parameters provides a better understanding of the relationships between the determinants of information value and the expected value of the information.","Made available in DSpace on 2014-12-15T20:29:00Z (GMT). No. of bitstreams: 1 8600269.pdf: 10259531 bytes, checksum: d01d56ee75d03b5b52cd963a888c6abd (MD5) Previous issue date: 1985","Embargo set by: Seth Robbins for item 70032 Lift date: Forever Reason: Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","U of I Only","280 p.","Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1985."],"dc:identifier":["http://hdl.handle.net/2142/69866","(UMI)AAI8600269"],"dc:subject":["Economics, Agricultural"],"dc:title":["Dynamic Programming Model of the Corn Production Decision Process With Stochastic Climate Forecasts (Information, Illinois)"],"dc:type":["text"],"thesis:degree_discipline":["Agricultural Economics"],"thesis:degree_level":["Dissertation"],"thesis:degree_name":["Ph.D."],"thesis:institution_name":["University of Illinois at Urbana-Champaign"]},"updated_at":"2026-07-22T22:26:01Z"}