Sharon M. Danes and Kathryn Rettig

Adjustment strategies of 337 farm men and women who faced economic stress were studied. Thirty-seven strategies were combined into one total-item scale with four subscales (increasing and extending money income, decreasing money expenditures, increasing household labor income, and increasing household management income.) Regression analyses for the scales were performed with... Read More >

James N. Morgan

The benefit-cost approach to economic choices turns out to require only four basic rules, though they imply also a principle, namely that only the future really matters, not the past. The four rules are: (1) convert all values to the present times; (2) reduce all values for uncertainty; (3) all... Read More >

Sherman Hanna, Jessie X. Fan and Y. Regina Chang

How much should a family save for retirement? A prescriptive life cycle savings model is presented. Scenarios are developed with simulations to provide implications for personal financial planning. The percent of income to save today depends on the expected lifetime non-investment income pattern. Households who are sure that their real... Read More >