AgEcon Search

AgEcon Search >
       Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition >
          Proceedings: 2006 Agricultural and Rural Finance Markets in Transition, October 2-3, 2006, Washington, DC >

Please use this identifier to cite or link to this item: http://purl.umn.edu/133087

Title: The Current State and Value of Farm Record Keeping
Authors: Marcellino, Dana M.
Wilson, Christine A.
Keywords: experimental auctions
farm financial records
value of financial information
Issue Date: 2006
Abstract: Despite the purported merits of good farm record keeping, and heavy investments made by some state Extension programs, little is known about the current state of farm financial records and the value farmers place on those records. Through the use of a survey, this study provides an overview of the current state of Midwestern farm financial records. This study also used a second price auction to determine the values farmers place on their financial records by eliciting the minimum amount farmers were willing to accept to give up their records. Survey results indicate that most farmers have a basic understanding of farm recordkeeping but do not practice more advanced accounting and financial techniques. The auction results indicate financial records are extremely valuable but exhibit wide diversity in valuations among farmers.
URI: http://purl.umn.edu/133087
Institution/Association: Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition>2006 Proceedings: Agricultural and Rural Finance Markets in Transition, October 2-3, 2006, Washington, DC
Total Pages: 19
Collections:Proceedings: 2006 Agricultural and Rural Finance Markets in Transition, October 2-3, 2006, Washington, DC

Files in This Item:

File Description SizeFormat
Marcellino2006.pdf143KbPDFView/Open
Recommend this item

All items in AgEcon Search are protected by copyright.

 

 

Brought to you by the University of Minnesota Department of Applied Economics and the University of Minnesota Libraries with cooperation from the Agricultural and Applied Economics Association.

All papers are in Acrobat (.pdf) format. Get Adobe Reader

Contact Us

Powered by: