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Valuing Farm Financial Information

Author

Listed:
  • Marcellino, Dana M.
  • Wilson, Christine A.

Abstract

Despite the merits of good farm record keeping, little is known about the value farmers place on their farm financial records. This study uses a willingness-to-accept experimental second price auction to elicit such values from farmers. Results indicate farm records are extremely valuable and that some diversity in values is explained by the characteristics of the records and farmers. We find that experimental auctions can be used to elicit values for extremely high-valued goods, and we demonstrate how they can be used to value a complex good comprised of many sub-components.

Suggested Citation

  • Marcellino, Dana M. & Wilson, Christine A., 2006. "Valuing Farm Financial Information," 2006 Annual meeting, July 23-26, Long Beach, CA 21243, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea06:21243
    DOI: 10.22004/ag.econ.21243
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    References listed on IDEAS

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    Cited by:

    1. Christopher A. Wolf & Frank Lupi & Stephen Harsh, 2011. "Farmer demand for financial record‐keeping system attributes," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 71(2), pages 259-276, August.
    2. Becot, Florence A. & Conner, David S. & Kolodinsky, Jane M. & Mendez, V. Ernesto, 2014. "Measuring the Costs of Production and Pricing on Diversified Farms: Juggling Decisions Amidst Uncertainties," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2014, pages 1-18.

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