Old age security and inter-generational transfer of family farms

Claudio Pesquin*, Ayal Kimhi, Yoav Kislev

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

23 Scopus citations


This paper offers an economic analysis of the intra-family insurance aspect of farm transfer. Sharing of farm income by retired parents with their succeeding children may act like a pension fund. A theoretical model is adopted and a bargaining game suggested to formulate this inter-generational contract. The model is illustrated with data for family farms in a co-operative village in Israel, and the effect of farm-specific parameters (size, risk aversion, sale value of the farm) on the inter-generational distribution of farm wealth is demonstrated.

Original languageAmerican English
Pages (from-to)19-37
Number of pages19
JournalEuropean Review of Agricultural Economics
Issue number1
StatePublished - 1999


  • Family farms
  • Inter-generational surplus
  • Nash solution
  • Old-age security


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