Crop insurance and hedging are two risk management strategies used by farmers to manage risk. Using a discrete choice model and farm-level data, this study investigates the factors influencing farmers' use of hedging and crop insurance as risk management strategies. In the case of crop...

As part of 1996 legislation, the U.S. began paying farmers production flexibility contract payments designed to be somewhat decoupled from current production decisions. In the labor-leisure model, decoupled payments would be expected to only have a wealth effect, but coupled payments would be...

Participation in government programs has a mild impact on the economic well-being of U.S. farm households. Major factors that determine farm household prosperity are the primary operator's education level and ethnicity, education level of the spouse, and other characteristics such as forward...

Data from the 2006 Agricultural Resource Management Survey and multivariate regression procedures are used to examine the role of human capital in impacting the incomes of farm households. The paper uses an “adjusted†concept of income where government payments are subtracted from...

The study measures how much of the variability in farm household assets and debt are attributed to the variability in farm and non-farm assets and farm and non-farm debt. Using a normalized variance decomposition approach and data from the Agricultural Resource Management Study (ARMS) survey,...