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- W2043191824 abstract "The von Thünen model of agricultural land use is reformulated in this paper as an investment decision in which the objectives of farmers range from total risk-aversion to profit-maximization. By means of a variant of the mean-variance model of contemporary portfolio theory, it is demonstrated that individual bid-rent functions depend on the nature of a farmer's utility function. Because farmers' objectives affect their bid-rent functions, the spatial pattern of agricultural production is also affected. The conventional result of the von Thünen model is shown to be a special case of the more general portfolio model." @default.
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- W2043191824 date "1989-07-01" @default.
- W2043191824 modified "2023-09-27" @default.
- W2043191824 title "A Financial-Economic von Thünen Model" @default.
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- W2043191824 doi "https://doi.org/10.1068/a210951" @default.
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