Asset Fixity and Investment Asymmetry in Agriculture
Fixed asset theory implies that it is more difficult to dispose of capital specific to agricultural production than to add to the stock of specialized capital. This theory is tested by determining whether transitions between states of disinvestment are as likely as transitions between states of inve...
| Veröffentlicht in: | American Journal of Agricultural Economics. - Oxford University Press. - 71(1989), 4, Seite 970-979 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
1989
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| Zugriff auf das übergeordnete Werk: | American Journal of Agricultural Economics |
| Schlagworte: | fixed asset theory irreversible investment Markov chain Biological sciences Economics Mathematics Applied sciences Business |