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Investment Behavior And Energy Conservation


  • LaDue, Eddy L.
  • Miller, Lynn H.
  • Kwiatkowski, Joseph H.


Binary logit and bivariate probit models were used to investigate the investment behavior of farmers relative to two energy-conserving assets, heat-recovery systems and precoolers. The bivariate probit procedure was useful in correcting for self-selectivity bias. Holdout samples and cross-validation procedures were used to develop true model statistics. Farm size, educational level of the operator, and the type of milking system in use were the important factors influencing investment behavior.

Suggested Citation

  • LaDue, Eddy L. & Miller, Lynn H. & Kwiatkowski, Joseph H., 1990. "Investment Behavior And Energy Conservation," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 0(Number 2), pages 1-10, October.
  • Handle: RePEc:ags:nejare:29030

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    References listed on IDEAS

    1. Keileher, Michael J. & Bills, Nelson L., 1989. "Statistical Summary of the 1987 Farm Management and Energy Survey," Research Bulletins 183304, Cornell University, Department of Applied Economics and Management.
    2. LaDue, Eddy L. & Miller, Lynn H. & Kwiatkowski, Joseph H., 1989. "An Analysis of Alternate Micro Level Models of Investment Behavior," Working Papers 178722, Cornell University, Department of Applied Economics and Management.
    3. Gustafson, Cole R. & Barry, Peter J. & Sonka, Steven T., 1986. "Machinery Investment Decisions By Cash Grain Farmers In Illinois," 1986 Regional Committee NC-161, October 7-8, 1986, St. Paul, Minnesota 127216, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    4. Frydman, Halina & Altman, Edward I & Kao, Duen-Li, 1985. " Introducing Recursive Partitioning for Financial Classification: The Case of Financial Distress," Journal of Finance, American Finance Association, vol. 40(1), pages 269-291, March.
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    Farm Management;


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