Micro-econometric models for analysing capital adjustment on Dutch pig farms

Farmers operate their business in a dynamic environment. Fluctuating prices, evolving agricultural and environmental policies, technological change and increasing consumer demands for product quality (e.g. with respect to environmental friendly production methods, animal welfare and food safety) frequently require adjustment of production and input levels on individual farms. Quantities of variable production factors like animal feed or pesticides can usually be adjusted easily together with changing production levels. Quantities of labour, capital and land however, are less easy to adjust. In... Mehr ...