Investment and Abandonment Behavior of Rural Households: An Empirical Investigation
利用不可逆投资模型，研究乌干达咖啡种植家庭在不确定性下投资或放弃咖啡树的决策，发现不可逆性、不确定性、固定成本和流动性约束是影响其行为的关键因素。
This article uses models of irreversible investment under uncertainty to examine the investment and abandonment behavior of poor rural households. It considers the decision of Ugandan coffee‐farming households to invest in or abandon coffee trees. The observed levels of investment and abandonment are found to be consistent with models of investment that allow for irreversibility, uncertainty, fixed costs, and liquidity constraints. The findings highlight the importance of addressing volatility, irreversibility, fixed costs, and liquidity constraints in order to increase households’ responsiveness to changes in the fundamentals and to enable households to recover from shocks to their capital stock.