Describing and quantifying revenue risk producers face when adopting water conserving cropping systems
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Demand for water in Colorado is increasing rapidly due to the growth of population along the Front Range. Water resources in Colorado are mostly allocated with majority of the water being diverted for agricultural uses. Thus, in order to meet increasing municipal and industrial demand, water must be reallocated from agricultural uses. One way to reallocate water is for farmers to lease water rather than produce crops. This implies a change in production practices for the formerly irrigated cropland, and adaptations may include dryland cropping or fallowing. When water leasing is introduced, and ...