Henning, Christian H.C.A.; Henningsen, Arne - In: American Journal of Agricultural Economics 89 (2007) 3, pp. 665-681
We develop a farm household model to analyze price responses of farm households. This model incorporates various types of transaction costs as well as labor heterogeneity. Nonproportional variable transaction costs or labor heterogeneity imply that production and consumption decisions become...
