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Old Age Security and Inter-Generational Transfer of Family Farms

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  • Pesquin, Claudio
  • Kimhi, Ayal
  • Kislev, Yoav

Abstract

This paper offers an economic analysis of the intra-family insurance aspect of farm transfer. Sharing of farm income by retired parents with their succeeding children may act like a pension fund. A theoretical model is adopted and a bargaining game suggested to formulate this inter-generational contract. The model is illustrated with data for family farms in a co-operative village in Israel, and the effect of farm-specific parameters (size, risk aversion, sale value of the farm) on the inter-generational distribution of farm wealth is demonstrated. Copyright 1999 by Oxford University Press.

Suggested Citation

  • Pesquin, Claudio & Kimhi, Ayal & Kislev, Yoav, 1999. "Old Age Security and Inter-Generational Transfer of Family Farms," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 26(1), pages 19-37, March.
    • Handle: RePEc:oup:erevae:v:26:y:1999:i:1:p:19-37
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    References listed on IDEAS

    as
    1. Kislev, Yoav & Leerman, Zvi & Zusman, Pinhas, 1991. "Recent Experience with Cooperative Farm Credit in Israel," Economic Development and Cultural Change, University of Chicago Press, vol. 39(4), pages 773-789, July.
    2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    3. Richard E. Just & Rulon D. Pope, 1979. "Production Function Estimation and Related Risk Considerations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(2), pages 276-284.
    4. Ayal Kimhi, 1995. "Differential Human Capital Investments and the Choice of Successor in Family Farms," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 719-724.
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