We propose a new three-step model-selection framework for size distributions in empirical data. It generalizes a recent frequentist plausibility-of-fit analysis (Step 1) and combines it with a relative ranking based on the Bayesian Akaike Information Criterion (Step 2). We enhance these...

Utilizing a data set of 399 Namibian commercial cattle farmers, we provide a detailed empirical analysis of farm management under highly variable rainfall. Particularly, we provide an econometric analysis of what personal characteristics of the farmer, environmental characteristics, and...