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Investment Behavior And Energy Conservation

Author

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

Abstract

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. 19(2), pages 1-10, October.
    • Handle: RePEc:ags:nejare:29030
    DOI: 10.22004/ag.econ.29030
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    References listed on IDEAS

    as
    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. Lowell Hill & Paul Kau, 1973. "Application of Multivariate Probit to a Threshold Model of Grain Dryer Purchasing Decisions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 55(1), pages 19-27.
    3. 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.
    4. 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.
    5. 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.
    6. Johnson, Thomas G. & Brown, William J. & O'Grady, Kevin, 1985. "A Multivariate Analysis Of Factors Influencing Farm Machinery Purchase Decisions," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(2), pages 1-13, December.
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