Farms, Families, and Markets: New Evidence on the Completeness of Markets in Agricultural Settings
Published By: BREAD on eSS | Published Date: June , 2016The farm household model has played a central role in improving the understanding of small-scale agricultural households and non-farm enterprises. Under the assumptions that all current and future markets exist and that farmers treat all prices as given, the model simplifies households’ simultaneous production and consumption decisions into a recursive form in which production can be treated as independent of preferences of household members.
Author(s): Daniel LaFave, Duncan Thomas | Posted on: Jun 17, 2016 | Views() | Download (496)