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AbstractThis article examines the challenge and opportunities of Big Data, and concludes that these technologies will lead to relevant analysis at every stage of the agricultural value chain. Big Data is defined by several characteristics beyond size, particularly, the volume, velocity, variety, and veracity of the data. We discuss a set of analytical techniques that are increasingly relevant to our profession as one addresses these issues. Ultimately, we resolve that agricultural and applied economists are uniquely positioned to contribute to the research and outreach agenda on Big Data. We believe there are relevant policy, farm management, supply chain, consumer demand, and sustainability issues where our profession can make major contributions. The authors are thankful to the anonymous reviewers and editor Craig Gundersen for helpful comments. Support was provided by the Mississippi Agricultural and Forestry Experiment Station Special Research Initiative.

AbstractThe Stacked Income Protection Plan (STAX) county‐level insurance product is analyzed for cotton producers in Texas. In contrast to studies based on representative farms, this analysis uses actual farm‐level yield data, which allows one to observe the heterogeneity of STAX effectiveness across farms in a county. The findings indicate that, for most farms, STAX is not a very effective alternative to farm‐level crop insurance. However, contrary to observed behavior, the findings suggest that many cotton producers in Texas would benefit from using STAX as a complement to their farm‐level crop insurance.

AbstractThis paper evaluates producer risk management decisions accounting for government provided risk management programs. An analytical model is developed to investigate the effect of crop insurance and Farm Bill program choice on producer demand for hedging in the futures market. Simulation results show government programs has potential to alter the optimal hedging decisions of producers. Yield protection insurance is found to complement hedging in most locations, while revenue insurance is generally found to substitute for hedging. Farm Bill programs are found to have varying effects based on price level.