Andersson, Hans
- Department of Economics, Swedish University of Agricultural Sciences
Abstract
In the developed countries, a majority of farm households receive at least as much income from nonfarm sources as from the farm. Such part-time farms have survived inspite of lower returns than full-time farms. This paper considers when lower returns to part-time farming could be compensated by risk-reduction due to diversification of income sources. The paper uses a dynamic portfolio choice model with labor income. The model and results could be applied in other contexts as well. (C) 2002 Elsevier Science B.V. All rights reserved.
Keywords
labor income; off-farm income; part-time farming; portfolio choice
Published in
Journal of Economic Behavior and Organization
2003, volume: 50, number: 4, pages: 477-493
Publisher: ELSEVIER SCIENCE BV
SLU Authors
UKÄ Subject classification
Agricultural Science
Publication identifier
- DOI: https://doi.org/10.1016/S0167-2681(02)00038-0
Permanent link to this page (URI)
https://res.slu.se/id/publ/47