We demonstrate that Theil-type variance corrections are required to obtain consistent marginal effect estimates in Nelson-Olsen's two-stage limited dependent variable (2SLDV) model. As Theil's residuals-based corrections are infeasible with 2SLDV, we present variance correction procedures shown...

In the past few decades, U.S. agriculture has become increasingly dependent upon purchased inputs as farmers increased the use of chemicals and machinery while reducing labor. Dependence on various energy intensive inputs is currently so great that if supply channels are disrupted, production...

In the past few decades, U.S. agriculture has become increasingly dependent upon purchased inputs as farmers increased the use of chemicals and machinery while reducing labor. Dependence on various energy intensive inputs is currently so great that if supply channels are disrupted, production...

A sequential decision-making model was developed, and data from farm-raised catfish production were used to demonstrate its use. Outcomes of sequences of decisions which satisfied chance constraints on ending cash balances were traced through a specified time period. Discrete choice variables...

This study examines the effects of both farm price support programs and federally subsidized crop insurance programs upon the profitability, capital structure, and financial survival rates of High Plains wheat producers. The alternative farm programs are analyzed in an intertemporal dynamic...