Iwai, Noubyuki Emerson, Robert D. Walters, Lurleen M.
Abstract
The prospect of immigration reform has renewed farmersâ concerns of serious labor shortages and cost increases, which may urge highly labor-intensive specialty crop farmers to switch to less-labor-intensive technology. The large-scale mechanization of the Florida sugarcane harvest during the 1970s/80s serves as an historical example of how technologies evolved due to changes in local labor market conditions. We analyze the dynamic decision-making process of sugarcane farmers in the relevant period using net present value (NPV) approach and real options approach (ROA) with least squares Monte Carlo (LSMC).
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Length: Date of creation: 2008 Date of revision: Handle: RePEc:ags:aaea08:6479
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