Farmland lease decisions in life-cycle model

Pierre I. Boumtje, Peter J. Barry, Paul N. Ellinger

Research output: Contribution to journalArticlepeer-review

Abstract

Optimization procedures are used to investigate economic motivations of farmland lease arrangements in an intertemporal setting and to explore linkages among lease contracts, risk, and time attitudes, and their impact on farm performance. The model solutions suggest farm businesses can be effectively analyzed in a life-cycle model in which farmland tenure, production, financing, and investment decisions are jointly optimized. The operator’s degree of risk aversion and time attitudes are shown to affect farm business decisions and performance.

Original languageEnglish (US)
Pages (from-to)167-179
Number of pages13
JournalAgricultural Finance Review
Volume61
Issue number2
DOIs
StatePublished - Nov 1 2001

Keywords

  • Farmland lease
  • Life-cycle model
  • Risk attitudes
  • Time attitudes

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics, Econometrics and Finance (miscellaneous)

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