Forker, Olan D. (author), Liu, Donald J. (author), and Cornell University, Department of Agricultural Economics; Cornell University, Department of Agricultural Economics
Format:
Journal article
Publication Date:
1988
Published:
USA
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 70 Document Number: C03014
Bailey, DeeVon (author), Glover, Terrence F. (author), Helms, Gary L. (author), and Helms: Department of Agricultural Economics, Texas A&M University; Bailey, Glover: Department of Economics, Utah State University
Format:
Journal article
Publication Date:
1987
Published:
USA
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 67 Document Number: C02692
AGRICOLA AGE 85925870, Extract: The thesis of this paper is that adaptive ability is unimportant when the processes generating the variables, which farmers take as exogenous, are stationary and unaltered. However, when these processes undergo structural change, adaptive ability is expected to affect the quality of production, marketing, and investment decisions. Farmers who have superior adaptive skills are expected on average to make better decisions. Furthermore, given the highly competitive nature of U.S. agriculture, successfully adapting to structural change is selective. Farmers possessing poor adaptive skill can be expected to comprise a relatively large share of the persons forced by economic circumstances to seek alternative employment or retirement, provided governmental intervention does not neutralize this selection process.
