The Economics of Cotton Variety Selection: An Application to the Texas High Plains
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One of the fundamental decisions for cotton producers is the selection of a seed variety. The purpose of this study was to analyze the effects of cotton variety selection on profitability in the Texas High Plains. Stochastic dominance with respect to a function was used to rank cotton varieties. It was found that under both irrigated and dryland conditions, the following four varieties ranked highest: ALL-Tex Excess, ALL-Tex Atlas, paymaster 145 and paymaster 147. Stochastic dominance with respect to a function analysis showed that these varieties would be expected to be consistent net revenue generators across the Texas High Plains.