The financial performance and relationships between several management factors and financial performance are examined in a panel of 107 New York dairy farms. A panel regression model with fixed effects is estimated in an effort to identify management factors that influence profitability. The...

Binary logit and bivariate probit models were used to investigate the investment behavior of farmers relative to two energy-conserving assets, heat-recovery systems and precoolers. The bivariate probit procedure was useful in correcting for self-selectivity bias. Holdout samples and...