Linkages Between Tenure, Risk, and Time Attitudes: Effects on Farm Business Decisions
Boumtje, Pierre I.
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https://hdl.handle.net/2142/83043
Description
Title
Linkages Between Tenure, Risk, and Time Attitudes: Effects on Farm Business Decisions
Author(s)
Boumtje, Pierre I.
Issue Date
1999
Doctoral Committee Chair(s)
Barry, Peter J.
Department of Study
Agricultural Economics
Discipline
Agricultural Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, Agricultural
Language
eng
Abstract
Results of this study show that farm businesses can be analyzed in a life-cycle model, in which tenure, production, financing, and investment decisions can be jointly optimized. In this inter-temporal stochastic setting, the degree of risk aversion and changing time attitudes play important roles in decision making. But risk aversion has stronger effects than do time attitudes. Share leasing also is confirmed as an important response to risk, especially as risk aversion increases.
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