Abstract:The view that agriculture is undergoing replacement of one kind of human capital by another is offered as alternative to the traditional view that resources are chronically oversupplied to farming. The hypothesis that high level management farms have experienced favorable cost curve shifts explains farm number declines as primarily replacement of many low management by fewer high management farms. The replacement raises efficiency modestly. Occupational supply behavior relations for management levels lead to i… Show more
“…At a later point in the paper they cite Lancaster [3] to support their results. Lancaster reformulates demand theory based on a utility function that has…”
Section: Monthly Supply-demand Relationships For Fed Cattle and Hogs:mentioning
“…At a later point in the paper they cite Lancaster [3] to support their results. Lancaster reformulates demand theory based on a utility function that has…”
Section: Monthly Supply-demand Relationships For Fed Cattle and Hogs:mentioning
“…Tolley's examination of management entry into farming [3] is a heroic effort to draw needed conclusions about an important subject. Despite its impressive credentials, the analysis is built upon doubtful assumptions, inapplicable techniques, and unreliable data.…”
“…Reynolds and Timmons (1969) Klinefelter referred to the farmr-enlargement hypothesis by Tweeten (1964), as did Reynolds and Timmons (1969). Klinefelter also referred to a hypothesis by Tolley (1970) that the shift in cost curves for farms is due to larger, high-level management farms replacing smaller, low-level management farms. Average farm size was the variable used to capture the farm-enlargement effect.…”
Section: Land Value Studies Addressing the Farm-expansion Issuementioning
confidence: 99%
“…Klinefelter, in his discussion of the farm-enlargement hypothesis, referred to a hypothesis by Tolley (1970) that favorable cost-curve shifts have been due to the substitution of fewer, high-level management farms for low-level management farms. Klinefelter did not test for the quality-of-management effect, however, other than through the farmenlargement variable.…”
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