The "unusual" behavior of agricultural land prices is the subject of considerable debate and controversy and is the object of this research. There is little doubt that land prices have been increasing steadily since 1959 and dramatically throughout the decade of the 1970's. However, there is widespread disagreement among economists,...
The present increasing need for the development of empirical hypotheses that explain the decisionmakers' behavior towards risk is to provide an understanding of the framework within which an industry operates. Such hypotheses could facilitate the implementation of policies designed to solve problems identified within an industry and could also provide...
National farm legislation seeks to moderate the conditions of low farm incomes and commodity price instability. Homogeneity of producer response is generally assumed in national models of aggregate commodity supply. Differing conditions of soil, climate, production systems, costs of production, markets, etc., could cause disparate acreage responses to the commodity...