A Dynamic Model of Acreage Allocation with General and Crop‐Specific Soil Capital
构建了一个可实证的种植面积分配模型，考虑当前作物生产对未来土壤生产力的影响，并分析未来作物价格和政府项目如何通过改变农民预期来影响当前的种植决策。
Abstract We develop an empirically tractable model of acreage allocation decisions in which farmers consider impacts of current crop production 00 future soil productivity. Because of the soil productivity effects, future crop prices are shown to affect current acreage allocations. Government programs which alter farmers' expectations of future crop prices relative to current prices also alter farmers' consideration of soil productivity effects of current acreage allocations. Reduced form and structural versions of our model are shown to yield reasonable parameter estimates.