Journal of Agricultural and Resource Economics
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This study examines factors affecting tax-deferred retirement savings among farm households. A double-hurdle model is estimated using 2003 Agricultural Resource Management Survey (ARMS) farm-level national data. Results indicate that demographic factors, total household income, off-farm work, and risk preference play important roles in retirement savings plan participation. Retirement savings increase with household size, intensity of off-farm work by farm operator and spouse, and size of farming operation. We find that the amount of retirement savings decreases with operator’s age and increases with spouse’s age, and that cash grain and dairy farmers have lower retirement savings.
This study uses a generalized Bayesian updating model to estimate the impact of health information appearing in the popular media on the consumption of eggs. The framework permits us to explore the possible effects of several known psychological biases in learning. Generalized Bayesian learning allows media publications to have a decaying effect on behavior. Our primary finding is that health information has a significant impact on U.S. egg consumption. Furthermore, the reaction to health information is found to be temporary. Health information will, on average, decay to a point of unimportance in a matter of a few weeks without a constant and consistent stream of confirming information.
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