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An intertemporal model in which farm capital accumulation and work choices by a single‐agent farm household are interdependent is developed and tested using a farm‐level data set. Estimation is done using a recursive two‐step simultaneous censored equations model. The results of this study...
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methods, and other factors are investigated to determine their influence on the optimal investment decision. The results … suggest that farm capital structure, loan term, and depreciation method have little impact on the investment decision. The …
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