文章基本信息

标题：LIFETIME LEVERAGE CHOICE FOR PROPRIETARY FARMERS IN A DYNAMIC STOCHASTIC ENVIRONMENT
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作者：Collins, Robert A. ; Karp, Larry S.
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：1993
页码：225-238
出版社：Food Distribution Research Society
摘要：This article reviews various models that may be used to explain optimal leverage choice for the proprietary farmer in a stochastic dynamic environment and develops a new model that highlights the risk of failure rather than the usual concept of risk as the variability of wealth. The model suggests that in addition to the usual factors, farm financial leverage is affected by age, wealth, and the opportunity cost of farming.