Growing farm size has generally been explained by technological advances that have allowed farmers to substitute capital for labor. Another possible factor in explaining recent farm size is the demographic shift: the age distribution of farmers has shifted to the right and older farmers...

We examine crop choice as a dynamic optimization problem over an infinite time horizon, taking into account the effects over time that corn-soybean rotations have on soil quality, which manifest in yield and therefore profit impacts. We show how the efficient decision rule depends on model...