Woldehanna, Tassew; Oskam, Arie J. - European Association of Agricultural Economists - EAAE - 2002
There is some confusion in the literature on the consumption behaviour of farmers. We try to clear up some of the … relative risk aversion utility function for total consumption expenditure, household expenditure and other expenditure, which …. Rather, these households follow simple consumption rules, strongly influenced by habit formation. In line with most of the …