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This article finds the optimal choice of tillage method and crop rotation for farmers who correctly anticipate the yield-decreasing effects of soil erosion. Expected increases in crop prices lead to farming practices that are more conservation oriented. Higher relative prices for hay also lead...
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Forthcoming. Abstract Currently Unavailable.
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This paper develops an empirical strategy for testi ng competing hypotheses of expectation regimes when direct measures of expectati ons are unavailable. The procedure takes as given an assumed structural relation ship between expected values of exogeneous variables and a given decision variab...
Persistent link: https://www.econbiz.de/10005441704