Off-farm work improves and reduces the riskiness of household income. Theoretical analyses reveal that the level and riskiness of off-farm income affect demand for farm/nonfarm investments. A two-limit Tobit model is estimated using ARMS data for 1996-2003. The impact on investment behaviour is...

Replaced with revised version of poster 06/03/11.

We analyzed data obtained from the 2009 Southern Cotton Precision Farming Survey of farmers in twelve states (Alabama, Arkansas, Florida, Georgia, Louisiana, Missouri, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia) to identify reasons for adoption/nonadoption of...

Most of the empirical literature in this area tends to analyze labor allocation decisions of economic agents using cross-sectional data. But such methods implicitly assume that model parameters are stable (constant) across firms and over time. The use of cross-sectional methods is therefore...

In the past three decades, farm families have relied on government payments and off-farm income to reduce income risk and increase total household income. Studies have shown that, as income effect dominates, government payments tend to reduce off-farm labor of farm operators and spouses. But...

Farm succession by the “next generation” is a key factor in the determination of industry structure and the total number of farmers and has profound implications for farm families which rely heavily on intergenerational succession. Our results indicate that, in addition to farm, operator,...

More than 50 percent of current farmers are over age 55, and the number of new farmers replacing them has fallen. This paper examines factors that contribute to the financial performance of new and beginning farmers in the U.S. A weighted regression analysis was used on data from the 2005...

This study uses a financial approach based on the DuPont expansion to examine the significance of specialization and vertical integration on domestic agriculture. The traditional DuPont Expansion decomposes the rate of return to equity into asset efficiency, gross margins, and solvency. We...