摘要：In this study, we attempt to prove some previously held ideas of machinery investment decisions using farm level data from Illinois. Investment decisions are analyzed taking into consideration past investment decisions in the county and on the individual farm. The results show there is a correlation between county level purchases and individual farm purchases and investment levels decrease the following year after an initial investment. These results display how non-traditional drivers for investment also play an important role in the investment decision.
关键词：machinery;investment;keeping up with the Jones';treadmill theory
