Psychological Type of Farm/Ranch Operators: Relationship to Financial Measures

Jose, H. Douglas; Crumly, James A.

doi:10.2307/1349716

Cited by 17 publications

(12 citation statements)

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“…The results from this study are consis tent with those of Jose and Crumly (1993). Psychologists would likely pointed out many differences in purpose, design and implementation between the MBTI used by Jose and Crumly and the LSI used in this study, but the results from the two studies are very similar.…”

Section: Discussionsupporting

confidence: 72%

“…For exam ple, some managers have characteristics that give them an advantage in human resources management, while other managers may have characteristics more suited to produc tion and operations management (McKenney and Keen 1974). Using the MBTI to explore the psychology of farmers, Jose and Crumly (1993) found that a group of Nebraska farm ers were significantly different from the gen eral population, with implications for all who work with farm groups. However, the MBTI, while widely known and used, is only one of many psychological profile instruments.…”

Section: Introductionmentioning

confidence: 99%

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Thinking Styles and Financial Characteristics of Selected Canadian Farm Managers

Howard

Brinkman

Lambert

1997

Canadian J Agri Economics

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The thinking styles of selected Canadian farm managers are identified using the life styles inventory (LSI) Nous avons examiné les modes de raisonnement de certains exploitants agricoles canadiens au moyen du Répertoire des styles de vie (LSI). Les notations LSI des chefs d'exploitation agricole étaient com parées à celles d'un échantillon repère de non-agriculteurs et nous avons étudié les corrélations entre les notations des agriculteurs et des indicateurs financiers. Il ressort de notre observation que la tour nure de raisonnement des exploitants agricoles est différente de celle des non-agriculteurs et qu'il existe des corrélations significatives entre ces tournures et les mesures de performance financière.

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Section: Discussionsupporting

confidence: 72%

Section: Introductionmentioning

confidence: 99%

Thinking Styles and Financial Characteristics of Selected Canadian Farm Managers

Howard

Brinkman

Lambert

1997

Canadian J Agri Economics

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“…Another interesting path to be taken is testing the disinvestment behavior of other groups of individuals. An exciting endeavor, e.g., is testing the behavior of farmers, as they have been alleged to be particularly conservative and averse to changes (Jose and Crumly, 1993;Odening et al, 2005). The experimental results also signal the need to disentangle the effects of the different potential drivers of 'psychological inertia', i.e., status quo bias, reluctance to change, escalation of commitment etc., in further studies.…”

Section: Limitations and Future Researchmentioning

confidence: 99%

Holding on for too long? An experimental study on inertia in entrepreneurs’ and non-entrepreneurs’ disinvestment choices

Sandri

Schade

Mußhoff

et al. 2010

Journal of Economic Behavior & Organization

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Disinvestment, in the sense of project termination and liquidation of assets including the cession of a venture, is an important realm of entrepreneurial decision-making. This study presents the results of an experimental investigation modeling the choice to disinvest as a dynamic problem of optimal stopping in which the patterns of decisions are analyzed with entrepreneurs and non-entrepreneurs. Our experimental results reject the standard net present value approach as an account of observed behavior. Instead, most individuals seem to understand the value of waiting. Their choices are weakly related to the disinvestment triggers derived from a formal optimal stopping benchmark consistent with real options reasoning. We also observe a pronounced 'psychological inertia', i.e., most individuals hold on to a losing project for even longer than real options reasoning would predict. The study provides evidence for entrepreneurs and nonentrepreneurs being quite similar in their behavior.

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“…Clearly more work is required to build on these studies. Two other works looking at aspects of farmers' personality are Jose and Crumly (1993), and Nuthall and Bishop-Hurley (1996).…”

Section: Psychological Aspects Of Farmers' Managerial Processes and Amentioning

confidence: 99%

Managerial ability — a review of its basis and potential improvement using psychological concepts

Nuthall

2001

Agricultural Economics

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Achieving an appropriate resource allocation structure usually revolves around the farm manager. His or her ability is crucial to success. Yet, most farmers learn by experience andlor through various courses that concentrate on technical, production economic and related aspects. Putting more effort into understanding the components of managerial ability and how a managers' ability to perform well in each component might be improved is well overdue. As psychology is the study of people and their actions it is the obvious discipline to turn to for assistance. This paper contains a review of the psychology of decision making from a farm management perspective, outlines what psychology offers for changing a person's attributes. and considers the structure of a research programme aimed at developing methods for improving individual's managerial ability. 0 2001 Elsevier Science B.V. All rights reserved.

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Psychological Type of Farm/Ranch Operators: Relationship to Financial Measures

Cited by 17 publications

References 0 publications

Thinking Styles and Financial Characteristics of Selected Canadian Farm Managers

Thinking Styles and Financial Characteristics of Selected Canadian Farm Managers

Holding on for too long? An experimental study on inertia in entrepreneurs’ and non-entrepreneurs’ disinvestment choices

Managerial ability — a review of its basis and potential improvement using psychological concepts

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