Lump Sum versus Annuity: Choices of Kentucky Farmers during the Tobacco Buyout Program
Pushkarskaya H, Marshall M. Lump Sum versus Annuity: Choices of Kentucky Farmers during the Tobacco Buyout Program. Journal Of Agricultural And Applied Economics 2009, 41: 613-624. DOI: 10.1017/s1074070800003102.Peer-Reviewed Original ResearchLump-sum paymentTobacco marketBuyout programsIndividual intertemporal preferencesIntertemporal behaviorIntertemporal preferencesLump sumRural householdsFarmer behaviorUtility theoryAnnuitiesOption choicePaymentsKentucky farmersMarketAvailability biasDecisionsEducation levelChoicePersonal characteristicsFamily structureIncomeHouseholdsEmploymentFarmers