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Title: What Did They Do with the Money? An Analysis of Tobacco Buyout Recipients’ Expenditure Choices
Authors: Marshall, Maria I.
Pushkarskaya, Helen N.
Keywords: defensive avoidance
expenditure choices
mental accounting
multinomial probit
tobacco buyout
Issue Date: 2008
Abstract: There are many expenditure options available to farmers who received a tobacco buyout check. A multinomial probit model is used to analyze how farmer, business, and household characteristics influence the choice of expenditure option. Results of the study show that farmers tend to use the tobacco buyout payments as a special income account which they spend in a focused manner, and their expenditure choices vary by gender and by age groups. Findings also reveal that farmers who plan to stay in tobacco production are more likely to invest in new or existing on-farm activities.
Identifiers: 0738-8950
Institution/Association: Journal of Agribusiness>Volume 26, Number 2, Fall 2008
Total Pages: 24
From Page: 175
To Page: 198
Collections:Volume 26, Number 2, Fall 2008

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