The Dixit entry/exit real option model was applied to the entry/exit decisions of New York dairy farmers. For the cost structure of a 500-cow farm, the entry milk price is $17.52 per hundredweight (cwt) and the exit milk price is $10.84. For the 50-cow farm cost structure, the entry price is...

Productivity of U.S. farmers by age is measured by non-parametric programming using 1992 Census data, decomposed into efficiency and technology Malmquist index components. Productivity increases slightly with age and then decreases. In most states productivity variations are from technology use...