A Stochastic Dominance Comparison of Reduced Tillage Systems in Corn and Soybean Production under Risk

Abstract

AbstractReturns per acre of reduced tillage systems including conventional, chisel, till‐plant, and no‐till are examined under general assumptions concerning risk. These returns are calculated using com and soybean experimental plot yields. Stochastic dominance rankings indicate an advantage (second degree) of conventional and chisel over no‐till when soil loss costs are not assigned. Annual per acre soil loss costs of $@@‐@@5–15 shift rankings towards the reduced tillage systems. A $@@‐@@10 per acre cost results from corn yield losses of 0.06% per year (170 bushel per acre yield base) over fifty years with a 5% real discount rate.