The Economic Evaluation of Input Use Prescription Maps: Are You Paying to Make Less Profit?
Technological advances in data collection and analysis engines have made variable rate input use application much more common. Producers typically purchase software that produces site-specific prescription maps or purchase maps from consultants. The process of generating prescriptions maps is typically black-box, i.e. the process is unknown. Does using these purchased maps lead to more profits for producers?
This Cornhusker Economics article discusses a method of verifying the economic profitability of site-specific prescription maps using an on-farm field experiment and statistical and economic analysis.