Community name: Precision Agriculture Economics, Profitability, Adoption, and Risk.

Justification: The profitability of new technology ultimately determines the success at the farm level and can be measured in part by examining the adoption trends. From the farm and agribusiness side, the economic questions have always been at least as important as the technical issues especially after commercialization of the product.

Interests/scope: The scope of this community includes all agricultural economists and associated economic topics including other social sciences. Pertinent topics are profitability, economics, efficiency, and adoption. Economists often examine the profitability of precision either as individual or bundled technology. The economics at the micro- and macro-scale are being evaluated. The adoption trends of technology in both developed and developing countries are often a sub-theme that economists study. Social science topics may include impacts of technology on the rural household, not just the farming operation.

Proposed activities:

1. Organize two oral paper sessions at each ICPA, one for profitability and economics and the other on adoption trends and other social science issues.
2. Hold bi-yearly virtual meetings via Skype or similar to encourage worldwide collaboration on adoption trends of precision technology.
3. Hold breakfast meeting at ICPA in even number years to elect Community Leaders and discuss topics for collaboration to present at the next ICPA.
4. Community members will reach out to their colleagues to encourage abstract submission for consideration for presentations.
5. Maintain web page on ISPA website including list of current projects and team members.
6. Contribute an entry for ISPA newsletter twice a year.