Farm transfer or succession by the “next generation†holds a place of central importance in the determination of industry structure and total number of farmers and has profound implications for farm families. The family farm sector relies heavily on intergenerational succession....

Succession planning is a component of a household’s risk management strategy for its farm business in as much as it is aimed at continuity of the business' management team. The family farm sector relies heavily on intergenerational succession. Succession and retirement are inter-linked...

The objective of this study is to test the dynamic relationships among variables including farm real estate values, farm returns, farm program payments, and real interest rates in an income capitalization model. Our analysis is unique in multiple ways: (1) it covers the period beginning with the...

In this paper, we estimate the time-varying betas or input elasticities and returns to scale in a stochastic frontier cumulative rolling regression analysis framework using FAO data of Southeast Asian countries from 1960-2002. Empirical results indicated returns to scale are overestimated by...

Using a nonparametric linear programming approach, our contribution is to examine if efficiency gains in Western crop production are realized due to diversification and to demonstrate that the diversification efficiency gains realized are a product of economies of scope efficiency gains and...

The objective of this paper is to examine the potential impacts of crop insurance on farm economic structure using Nebraska county level data from 1980-1998. Using a profit function we fit input demand and output supply equations accounting for insurance premiums and indemnities to examine the...

This study examines how federal farm policies, specifically crop insurance, have affected the farm economic structure of North Dakota’s agriculture sector. The system of derived input demand equations is estimated to quantify the changes in North Dakota farmers’ input use when they purchase...

The proportions of land values generated by farm program payments and farm returns are examined using an extended income capitalization model. The extended income capitalization model addresses the identification issue introduced by the counter-cyclical nature of farm program payments and farm...

Using the non-parametric linear programming approach, this study examines overall efficiency gains due to diversification between crop and livestock enterprises for a sample of Kansas farms. Overall efficiency gains were decomposed into scope efficiency gains and scale efficiency gains. Farms...