메뉴 건너뛰기




Volumn 64, Issue 2, 2013, Pages 295-318

Investing today or tomorrow? An experimental approach to farmers' decision behaviour

Author keywords

Experimental economics; Farmer behaviour; Investment; Real options

Indexed keywords

AGRICULTURAL ECONOMICS; DECISION MAKING; INVESTMENT; MICROECONOMICS; THEORETICAL STUDY; VALUATION;

EID: 84877920246     PISSN: 0021857X     EISSN: 14779552     Source Type: Journal    
DOI: 10.1111/j.1477-9552.2012.00371.x     Document Type: Article
Times cited : (32)

References (49)
  • 1
    • 0001320055 scopus 로고
    • A unified model of investment under uncertainty
    • Abel, A. B. and Eberly, J. C. A unified model of investment under uncertainty', The American Economic Review, Vol. 84, (1994) pp. 369-1384.
    • (1994) The American Economic Review , vol.84 , pp. 369-1384
    • Abel, A.B.1    Eberly, J.C.2
  • 3
    • 0033849213 scopus 로고    scopus 로고
    • Econometric analysis of the determinants of adoption of alley farming by farmers in the forest zone of southwest Cameroon
    • Adesina, A. A., Mbila, D., Nkamleu, G. B. and Endamana, D. Econometric analysis of the determinants of adoption of alley farming by farmers in the forest zone of southwest Cameroon', Agriculture, Ecosystems and Environment, Vol. 80, (2000) pp. 255-265.
    • (2000) Agriculture, Ecosystems and Environment , vol.80 , pp. 255-265
    • Adesina, A.A.1    Mbila, D.2    Nkamleu, G.B.3    Endamana, D.4
  • 4
    • 0842331823 scopus 로고    scopus 로고
    • Does money matter? Wealth attainment as the motive for initiating growth-oriented technology ventures
    • Amit, R., MacCrimmon, K. R., Zietsma, C. and Oesch, J. M.. Does money matter? Wealth attainment as the motive for initiating growth-oriented technology ventures', Journal of Business Venturing, Vol. 16, (2001) pp. 119-143.
    • (2001) Journal of Business Venturing , vol.16 , pp. 119-143
    • Amit, R.1    MacCrimmon, K.R.2    Zietsma, C.3    Oesch, J.M.4
  • 5
    • 84855584941 scopus 로고    scopus 로고
    • Risk aversion: Experimental evidence from South African fishing communities
    • Brick, K., Visser, M. and Burns, J.. Risk aversion: Experimental evidence from South African fishing communities', American Journal of Agricultural Economics, Vol. 94, (2012) pp. 133-152.
    • (2012) American Journal of Agricultural Economics , vol.94 , pp. 133-152
    • Brick, K.1    Visser, M.2    Burns, J.3
  • 7
    • 0033270827 scopus 로고    scopus 로고
    • The effects of financial incentives in experiments: a review and capital-labor-production framework
    • Camerer, C. F. and Hogarth, R. M. The effects of financial incentives in experiments: a review and capital-labor-production framework', Journal of Risk and Uncertainty, Vol. 19, (1999) pp. 7-42.
    • (1999) Journal of Risk and Uncertainty , vol.19 , pp. 7-42
    • Camerer, C.F.1    Hogarth, R.M.2
  • 8
    • 0032795255 scopus 로고    scopus 로고
    • The importance of learning in the adoption of high-yielding variety seeds
    • Cameron, L. A. The importance of learning in the adoption of high-yielding variety seeds', American Journal of Agricultural Economics, Vol. 81, (1999) pp. 83-94.
    • (1999) American Journal of Agricultural Economics , vol.81 , pp. 83-94
    • Cameron, L.A.1
  • 9
    • 64649096117 scopus 로고    scopus 로고
    • How closely do hypothetical surveys and laboratory experiments predict field behavior?
    • Chang, J. B., Lusk, J. L. and Norwood, F. B. How closely do hypothetical surveys and laboratory experiments predict field behavior?American Journal of Agricultural Economics, Vol. 91, (2009) pp. 518-534.
    • (2009) American Journal of Agricultural Economics , vol.91 , pp. 518-534
    • Chang, J.B.1    Lusk, J.L.2    Norwood, F.B.3
  • 10
    • 0001158393 scopus 로고    scopus 로고
    • A comparison of learning and replicator dynamics using experimental data
    • Cheung, Y.-W. and Friedman, D. A comparison of learning and replicator dynamics using experimental data', Journal of Economic Behavior and Organization, Vol. 35, (1998) pp. 263-280.
    • (1998) Journal of Economic Behavior and Organization , vol.35 , pp. 263-280
    • Cheung, Y.-W.1    Friedman, D.2
  • 12
    • 61349188275 scopus 로고    scopus 로고
    • Real options and escalation of commitment: a behavioral analysis of capital investment decisions
    • Denison, C. A. Real options and escalation of commitment: a behavioral analysis of capital investment decisions', The Accounting Review, Vol. 84, (2009) pp. 133-155.
    • (2009) The Accounting Review , vol.84 , pp. 133-155
    • Denison, C.A.1
  • 16
    • 77956587269 scopus 로고    scopus 로고
    • Investment and abandonment behavior of rural households: an empirical investigation
    • Hill, R. V. Investment and abandonment behavior of rural households: an empirical investigation', American Journal of Agricultural Economics, Vol. 92, (2010) pp. 1065-1086.
    • (2010) American Journal of Agricultural Economics , vol.92 , pp. 1065-1086
    • Hill, R.V.1
  • 17
    • 38549148811 scopus 로고    scopus 로고
    • Econometric hysteresis in hog production
    • Hinrichs, J., Musshoff, O. and Odening, M. Econometric hysteresis in hog production', Applied Economics, Vol. 40, (2008) pp. 333-340.
    • (2008) Applied Economics , vol.40 , pp. 333-340
    • Hinrichs, J.1    Musshoff, O.2    Odening, M.3
  • 18
    • 0037756148 scopus 로고    scopus 로고
    • Risk aversion and incentive effects
    • Holt, C. A. and Laury, S. K. Risk aversion and incentive effects', American Economic Review, Vol. 92, (2002) pp. 1644-1655.
    • (2002) American Economic Review , vol.92 , pp. 1644-1655
    • Holt, C.A.1    Laury, S.K.2
  • 19
    • 0000534362 scopus 로고    scopus 로고
    • Laboratory evidence on how managers intuitively value real growth options
    • Howell, S. D. and Jägle, A. J. Laboratory evidence on how managers intuitively value real growth options', Journal of Business Finance and Accounting, Vol. 24, (1997) pp. 915-935.
    • (1997) Journal of Business Finance and Accounting , vol.24 , pp. 915-935
    • Howell, S.D.1    Jägle, A.J.2
  • 20
    • 0032367990 scopus 로고    scopus 로고
    • Investment and capital market imperfections: a switching regression approach using U.S. firm panel data
    • Hu, X. and Schiantarelli, F. Investment and capital market imperfections: a switching regression approach using U.S. firm panel data', Review of Economics and Statistics, Vol. 80, (1998) pp. 466-479.
    • (1998) Review of Economics and Statistics , vol.80 , pp. 466-479
    • Hu, X.1    Schiantarelli, F.2
  • 25
    • 0000708409 scopus 로고
    • Economic duration data and hazard functions
    • Kiefer, N. M. Economic duration data and hazard functions', Journal of Economic Literature, Vol. 26, (1988) pp. 646-679.
    • (1988) Journal of Economic Literature , vol.26 , pp. 646-679
    • Kiefer, N.M.1
  • 26
    • 0141940240 scopus 로고    scopus 로고
    • The role of education in facilitating risk-taking and innovation in agriculture
    • Knight, J., Weir, S. and Woldehanna, T. The role of education in facilitating risk-taking and innovation in agriculture', Journal of Development Studies, Vol. 39, (2003) pp. 1-22.
    • (2003) Journal of Development Studies , vol.39 , pp. 1-22
    • Knight, J.1    Weir, S.2    Woldehanna, T.3
  • 29
    • 0348134287 scopus 로고    scopus 로고
    • Experimental economics from the vantage-point of behavioural economics
    • Loewenstein, G. Experimental economics from the vantage-point of behavioural economics', The Economic Journal, Vol. 109, (1999) pp. 25-34.
    • (1999) The Economic Journal , vol.109 , pp. 25-34
    • Loewenstein, G.1
  • 31
    • 0348055023 scopus 로고
    • The family farm and the three traditions
    • Motheral, J. R. The family farm and the three traditions', Journal of Farm Economics, Vol. 33, (1951) pp. 514-529.
    • (1951) Journal of Farm Economics , vol.33 , pp. 514-529
    • Motheral, J.R.1
  • 32
    • 16244378235 scopus 로고    scopus 로고
    • A real options perspective on entrepreneurial entry in the face of uncertainty
    • O'Brien, J. P., Folta, T. B. and Johnson, D. R. A real options perspective on entrepreneurial entry in the face of uncertainty', Managerial and Decision Economics, Vol. 24, (2003) pp. 515-533.
    • (2003) Managerial and Decision Economics , vol.24 , pp. 515-533
    • O'Brien, J.P.1    Folta, T.B.2    Johnson, D.R.3
  • 34
    • 0034549540 scopus 로고    scopus 로고
    • The value of price- and quantity-fixing contracts for piglets in Finland
    • Pietola, K. and Wang, H. The value of price- and quantity-fixing contracts for piglets in Finland', European Review of Agricultural Economics, Vol. 27, (2000) pp. 431-447.
    • (2000) European Review of Agricultural Economics , vol.27 , pp. 431-447
    • Pietola, K.1    Wang, H.2
  • 35
    • 0029500419 scopus 로고
    • Technology adoption decisions under irreversibility and uncertainty: an ex ante approach
    • Purvis, A., Boggess, W. G., Moss, C. B. and Holt, J. Technology adoption decisions under irreversibility and uncertainty: an ex ante approach', American Journal of Agricultural Economics, Vol. 77, (1995) pp. 541-551.
    • (1995) American Journal of Agricultural Economics , vol.77 , pp. 541-551
    • Purvis, A.1    Boggess, W.G.2    Moss, C.B.3    Holt, J.4
  • 36
    • 0030355808 scopus 로고    scopus 로고
    • Experimental evidence on the irreversibility effect
    • Rauchs, A. and Willinger, M. Experimental evidence on the irreversibility effect', Decision and Theory, Vol. 40, (1996) pp. 51-78.
    • (1996) Decision and Theory , vol.40 , pp. 51-78
    • Rauchs, A.1    Willinger, M.2
  • 37
    • 74549221618 scopus 로고    scopus 로고
    • Internal and external validity in economics research: Tradeoffs between experiments, field experiments, natural experiments and field data
    • Roe, B. E. and Just, D. R. Internal and external validity in economics research: Tradeoffs between experiments, field experiments, natural experiments and field data', American Journal of Agricultural Economics, Vol. 91, (2009) pp. 1266-1271.
    • (2009) American Journal of Agricultural Economics , vol.91 , pp. 1266-1271
    • Roe, B.E.1    Just, D.R.2
  • 39
    • 73149091649 scopus 로고    scopus 로고
    • Optimal farm size in an uncertain land market: The case of Kyrgyz Republic
    • Savastano, S. and Scandizzo, P. L. Optimal farm size in an uncertain land market: The case of Kyrgyz Republic', Agricultural Economics, Vol. 40, (2009) pp. 745-758.
    • (2009) Agricultural Economics , vol.40 , pp. 745-758
    • Savastano, S.1    Scandizzo, P.L.2
  • 40
    • 20444450623 scopus 로고    scopus 로고
    • Artificiality: The tension between internal and external validity in economic experiments
    • Schram, A. Artificiality: The tension between internal and external validity in economic experiments', Journal of Economic Methodology, Vol. 12, (2005) pp. 225-237.
    • (2005) Journal of Economic Methodology , vol.12 , pp. 225-237
    • Schram, A.1
  • 41
    • 84979343993 scopus 로고
    • Are there universal aspects in the structure and contens of human values
    • Schwartz, S. H. Are there universal aspects in the structure and contens of human values', Journal of Social Issues, Vol. 50, (1994) pp. 19-45.
    • (1994) Journal of Social Issues , vol.50 , pp. 19-45
    • Schwartz, S.H.1
  • 44
    • 84877920511 scopus 로고    scopus 로고
    • Can hysteresis and real options explain the farmland valuation puzzle?
    • in A. B. Moss and A. Schmitz (eds.), Ames: Iowa State University Press
    • Turvey, C. Can hysteresis and real options explain the farmland valuation puzzle?' in A. B. Moss and A. Schmitz (eds.), Government Policy and Farmland Markets: the Maintenance of Farmer Wealth (Ames: Iowa State University Press, 2003, pp. 179-207).
    • (2003) Government Policy and Farmland Markets: the Maintenance of Farmer Wealth , pp. 179-207
    • Turvey, C.1
  • 45
    • 80052045317 scopus 로고    scopus 로고
    • Risky investment decisions: How are individuals influenced by their groups?
    • Viscusi, W., Phillips, O. and Kroll, S. Risky investment decisions: How are individuals influenced by their groups?Journal of Risk and Uncertainty, Vol. 43, (2011) pp. 81-106.
    • (2011) Journal of Risk and Uncertainty , vol.43 , pp. 81-106
    • Viscusi, W.1    Phillips, O.2    Kroll, S.3
  • 46
    • 84856095687 scopus 로고    scopus 로고
    • A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria
    • Willebrands, D., Lammers, J. and Hartog, J. A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria', Journal of Economic Psychology, Vol. 33, (2012) pp. 342-354.
    • (2012) Journal of Economic Psychology , vol.33 , pp. 342-354
    • Willebrands, D.1    Lammers, J.2    Hartog, J.3
  • 47
    • 0032317427 scopus 로고    scopus 로고
    • Option values and agricultural price policy: Application to terrace construction in Kenya
    • Winter-Nelson, A. and Amegbeto, K. Option values and agricultural price policy: Application to terrace construction in Kenya', American Journal of Agricultural Economics, Vol. 80, (1998) pp. 409-418.
    • (1998) American Journal of Agricultural Economics , vol.80 , pp. 409-418
    • Winter-Nelson, A.1    Amegbeto, K.2
  • 48
    • 33644777730 scopus 로고    scopus 로고
    • Environmental policy uncertainty and marketable permit systems: The Dutch phosphate quota program
    • Wossink, A. and Gardebroek, C. Environmental policy uncertainty and marketable permit systems: The Dutch phosphate quota program', American Journal of Agricultural Economics, Vol. 88, (2006) pp. 16-27.
    • (2006) American Journal of Agricultural Economics , vol.88 , pp. 16-27
    • Wossink, A.1    Gardebroek, C.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.