A Predictive Model for Farmland Purchase/Rent Using Random Forests

• 영문명: A Predictive Model for Farmland Purchase/Rent Using Random Forests
• 발행기관: 한국농업경제학회
• 저자명: 정호연(Hoyeon Jeong) 김영준(Youngjune Kim) 임소영(So Yeong Lim)
• 간행물 정보: 『농업경제연구』63권 3호, 153~168쪽, 전체 16쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2022.09.30

영문 초록

This study contributes to guidance for understanding farmland purchase and rent decisions in Korea via an analysis using a machine learning tool, Random Forests: A Supervised Machine Learning Algorithm. Farm Household Economy Survey is employed to predict the relationship between farmland acquisition and farm household economic characteristics. Our main findings are two folds. First, a farmland purchase decision is positively related to transfer incomes, the value of inventory & fixed assets, and the value of farmland that farmers owned. Second, a farmland rent decision is also positively associated with a rent paid in a prior year, revenue from field crops, inventory and agricultural assets, and transfer incomes.

목차

Ⅰ. Introduction

Ⅱ. Data

Ⅲ. Random Forests

Ⅳ. Empirical Results

Ⅴ. Conclusions

References

키워드

Random Forests Farmland acquisition Farm household economic characteristics data-driven variable selection