We provide in-depth economic analysis of California agriculture that helps leaders from government agencies, industry groups, non-profit organizations and the general public make informed decisions.
WHY IS THIS IMPORTANT?
The Shift toward Precision
Food production has shifted to "precision agriculture" that uses drones, satellites, sensors and other modern technologies to make production more efficient and effective. The field of economics has embraced precision, too.
We no longer need to quantify agriculture with a single, blunt, measure: "market value" based on cash receipts. That measure has served well for a century, but we can go beyond it now.
Modern econometric tools empower us to be more efficient and effective in how we measure agriculture's value. This new precision, in turn, leads to deeper insights and better decisions.