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A Real Options Framework for Analyzing Program Participation as Human Capital Investments: The Case of the Average Crop Revenue Election (ACRE) Program AgEcon
Mitchell, Paul D.; Rejesus, Roderick M.; Coble, Keith H.; Knight, Thomas O..
We develop a real options framework to model producer participation in a subsidy program as a human capital investment to learn how the stochastic subsidy affects returns and how to adapt production activities to new program incentives, formally linking the framework to a multinomial logit specification for empirical applications. Analysis of farmer intentions for participation in the ACRE program created by the 2008 Farm Bill finds that reluctance to participate was driven largely by risk aversion and perceptions about income risk from yield and price variability, consistent with the theory that uncertainty creates an option value discouraging human capital investments.
Tipo: Working or Discussion Paper Palavras-chave: Agricultural Policy; Commodity Programs; Farm Bill; Multinomial Logit; Real Options Theory; Subsidy; Agricultural and Food Policy; Q12; Q18.
Ano: 2010 URL: http://purl.umn.edu/92896
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Adoção sequencial de tecnologia pós-colheita aplicada à cafeicultura em Viçosa (MG) Rev. Econ. Sociol. Rural
Pereira,Matheus Wemerson Gomes; Teixeira,Erly Cardoso; Lima,João Eustáquio de.
O processo de adoção tecnológica na agricultura é de fundamental importância para o aumento da produtividade e a melhoria da qualidade dos produtos agrícolas. O objetivo deste artigo é avaliar os determinantes da adoção da tecnologia pós-colheita na cafeicultura em Viçosa (MG), no ano de 2007. Os resultados sugerem que o modelo sequencial é o mais apropriado à análise e que as variáveis associativismo, rentabilidade, treinamento, crédito, capital próprio e escolaridade são os principais determinantes na adoção de estágios mais elevados de tecnologia pós-colheita aplicada à cafeicultura. Os efeitos marginais mais importantes para adoção de maiores níveis tecnológicos são associativismo, treinamento, crédito e rentabilidade.
Tipo: Info:eu-repo/semantics/article Palavras-chave: Adoção tecnológica; Café; Multinomial Logit; Razão de risco relativo; Minas Gerais.
Ano: 2010 URL: http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0103-20032010000200006
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Land Use Change: A Spatial Multinomial Choice Analysis AgEcon
Carrion-Flores, Carmen E.; Flores-Lagunes, Alfonso; Guci, Ledia.
Urban decentralization and dispersion trends have led to increased conversion of rural lands in many urban peripheries and exurban regions of the U.S. The growth of the exurban areas has outpaced growth in urban and suburban areas, resulting in growth pressures at the urban-rural fringe. A thorough analysis of land use change patterns and the ability to predict these changes are necessary for the effective design of regional environmental, growth, and development policies. We estimate a multinomial discrete choice model with spatial dependence using parcel-level data from Medina County, Ohio. Accounting for spatial dependence should result in improved statistical inference about land use changes. Our spatial model extends the binary choice “linearized...
Tipo: Conference Paper or Presentation Palavras-chave: Land Use Change; Multinomial Logit; Spatial Dependence; Community/Rural/Urban Development; Land Economics/Use; Research Methods/ Statistical Methods; R14; C21; C25.
Ano: 2009 URL: http://purl.umn.edu/49403
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Motivation for Technology Adoption and Its Impact on Abandonment: A Case Study of U.S. Cotton Farmers AgEcon
Uematsu, Hiroki; Mishra, Ashok K.; Roberts, Roland K.; Lambert, Dayton M.; English, Burton C..
We estimate a bivariate probit model with sample selection to identify factors affecting adoption and abandonment of precision farming technologies for cotton farmers, using the 2009 Southern Cotton Precision Farming Survey conducted in 12 Southern states in the United States. Farmers for whom being at the forefront of agricultural technology is not an important reason for adoption are more likely to abandon precision farming technologies. This study identified various factors associated with adoption and retention of precision farming technologies. Findings from this study offer significant information to policy‐makers for a better formulation of agri‐environmental programs that encourage farmers to adopt environmentally benign farming practices...
Tipo: Conference Paper or Presentation Palavras-chave: Technology Abandonment; Technology Adoption; Bivariate Probit with Sample Selection; Multinomial Logit; Precision Farming; Agribusiness; Crop Production/Industries; Farm Management; Production Economics; Research and Development/Tech Change/Emerging Technologies; Q10; Q12; Q16.
Ano: 2011 URL: http://purl.umn.edu/98838
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