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| Tavernier, Edmund M.; Li, Farong; Temel, Tugrul T.. |
| This paper uses search theory to examine the role that risk preference (RP) plays in farmland preservation. Assuming that the distribution of the offer price is fixed, the analysis indicates that risk-averse agents have lower reservation prices than risk-neutral agents, and that agricultural land held by the former exits farming at a faster rate. The results also show that farmland preservation policies which increase reservation prices have a greater capitalization effect if agents are risk-loving, and that such policies, while effectively protecting the interest of land speculators, may be less effective in serving the needs of farming and farm-held open space. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 1996 |
URL: http://purl.umn.edu/31653 |
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| Tavernier, Edmund M.; Temel, Tugrul T.; Li, Farong. |
| A labor supply model is used to examine the relationship between farm ownership and operators' participation in the off-farm labor market for the Northeast region. The results indicate that ownership significantly influences operators' off-farm employment participation. In particular, part-owners significantly allocate labor services to off-farm activities. The results also show that the participation rate among part-owner operators is high partly because the availability of other income sources accelerates the process of acquiring assets to become full-owner operators. |
| Tipo: Journal Article |
Palavras-chave: Labor and Human Capital. |
| Ano: 1997 |
URL: http://purl.umn.edu/31361 |
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