Risk: An Unpopular Word, Risk Management: Smart Farming….
The Progressive Rancher
Initial ideas on risk management uses of precision agricultural technology focused on site-specific treatment of problem areas to reduce the probability of low yields and returns. Recent discussions deal with sensor and remote-sensing information to improve marketing and “as applied maps” as trace-back mechanisms to manage liability. A theoretical model is presented that suggests that there are plausible circumstances under which precision farming can reduce temporal yield variability. Empirical evidence from an on-farm trial of site-specific P&K management in the Eastern Cornbelt supports the hypothesis that precision farming can have risk-reducing benefits.
Curtis, K.R. “Risk: An Unpopular Word, Risk Management: Smart Farming….” The Progressive Rancher, January 2006.