..., price-yield correlation via a copula, price risk, and production costs. The authors evaluate the NI distribution through a modified Modern Portfolio Theory (MPT) decision framework. The authors use the modified MPT decision framework to explore tradeoffs between expected NI and farm ruin (defined as 1...

... of freedom. After establishing the existence of spatial autocorrelation, copula models are used to estimate the joint distribution of corn yields and the joint distribution of soybean yields for a group of nine counties in Illinois. Bootstrap samples of the corn and soybean yields are generated to estimate...