Commodity price stabilization in a peasant economy

Israel Finkelshtain, James A. Chalfant

Research output: Contribution to journalArticlepeer-review

8 Scopus citations

Abstract

The peasant household's preferences for price stabilization are shown to depend on observable parameters describing consumption and production decisions. A measure of willingness to pay is obtained for the case where the household is engaged in both the production and the consumption of the commodity in question. For plausible parameter values, it appears likely that the peasant household will prefer price stabilization and that stabilization of the producer price alone dominates complete stabilization.

Original languageAmerican English
Pages (from-to)1208-1217
Number of pages10
JournalAmerican Journal of Agricultural Economics
Volume79
Issue number4
DOIs
StatePublished - Nov 1997

Keywords

  • Peasant households
  • Price stabilization
  • Risk and uncertainty

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