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What Did They Do with the Money? An Analysis of Tobacco Buyout Recipients’ Expenditure Choices AgEcon
Marshall, Maria I.; Pushkarskaya, Helen N..
There are many expenditure options available to farmers who received a tobacco buyout check. A multinomial probit model is used to analyze how farmer, business, and household characteristics influence the choice of expenditure option. Results of the study show that farmers tend to use the tobacco buyout payments as a special income account which they spend in a focused manner, and their expenditure choices vary by gender and by age groups. Findings also reveal that farmers who plan to stay in tobacco production are more likely to invest in new or existing on-farm activities.
Tipo: Journal Article Palavras-chave: Defensive avoidance; Expenditure choices; Mental accounting; Multinomial probit; Tobacco buyout; Agribusiness; Crop Production/Industries; Financial Economics.
Ano: 2008 URL: http://purl.umn.edu/90641
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Livelihood Disruption and Venture Creation: Entrepreneurship as Technology Adoption, A Case of Tobacco Farmer in Kentucky AgEcon
Khantachavana, Sivalai V.; Just, David R.; Pushkarskaya, Helen N..
Entrepreneurship means making discrete changes in livelihood activities that involve substantial risks to income. While the rewards may be substantial, transactions costs may make decisions irreversible. This paper draws a comparison between entrepreneurship and technology adoption. Adopting a new production technology also involves substantial risks. The economics of technology adoption is a well developed literature with many accepted and testable models. Most prominent are the theories of learning by using and learning by doing. We review the technology adoption literature, drawing out lessons for entrepreneurship research. We then apply an entrepreneurship as technology adoption model to a unique dataset collected during the tobacco buyout. The...
Tipo: Conference Paper or Presentation Palavras-chave: Entrepreneurship; Technology adoption; Tobacco buyout; Agribusiness; Risk and Uncertainty.
Ano: 2010 URL: http://purl.umn.edu/61296
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Farming Exit Decision by Age Group: Analysis of Tobacco Buyout Impact in Kentucky AgEcon
Pushkarskaya, Helen N.; Vedenov, Dmitry V..
This article analyzes factors that affected the decision to exit tobacco production in the wake of the tobacco buyout program using the data collected through a survey of Kentucky tobacco farmers. Using the Heuristic logistic regression model, we find that the decision to exit tobacco growing was affected by efficiency considerations, availability of off-farm employment, and exit barriers. Availability of off-farm employment had the strongest effect on farmers younger than 46, while the effect of variables measuring efficiency and exit barriers seemed to be more uniform across age groups. Based on the results we suggest several policy interventions.
Tipo: Journal Article Palavras-chave: Age group; Industry exit; Tobacco buyout; Tobacco farming; Agribusiness; Crop Production/Industries; Farm Management; Institutional and Behavioral Economics; Labor and Human Capital; Marketing; Production Economics; C25; D21; E24; J00; J11; J24; J43; Q18; R23.
Ano: 2009 URL: http://purl.umn.edu/56653
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Lump Sum versus Annuity: Choices of Kentucky Farmers during the Tobacco Buyout Program AgEcon
Pushkarskaya, Helen N.; Marshall, Maria I..
Our study uses the data collected during the implementation of the tobacco buyout program in Kentucky to evaluate how rural households, diverse in income, age, family structure, location, education level, and other characteristics, made a choice between annuities and a lump-sum payment. Subjects in our field experiment did not have to retire or change their employment, as did subjects in many field studies of the choice between annuities and lump-sum payments, which allowed us to evaluate the relationship between the option choice and a decision whether to exit the tobacco market. Our results suggest that while discounted utility theory gives acceptable predictions of the farmers’ behavior, other factors have to be taken into consideration. First, there...
Tipo: Journal Article Palavras-chave: Annuity; Family business system; Intertemporal choice; Lump sum; Tobacco buyout; Agribusiness; Consumer/Household Economics; Institutional and Behavioral Economics; Marketing; G11; H31; J10.
Ano: 2009 URL: http://purl.umn.edu/56647
Registros recuperados: 4
Primeira ... 1 ... Última
 

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