This paper examines farmers’ decision makingunder risk and uncertainty. In particular, the study identifies the type of risk preference (averse, neutral or seeking)and measures the magnitude of risk preference before and after the introduction of the Single Farm Payment (SFP). The analysis...

This paper uses cointegration procedures to test for agricultural commodity futures market efficiency in the UK. Cointegration between spot and futures prices is a necessary condition for market efficiency where these prices are characterised by stochastic trends (Lai and Lai 1991). In addition,...

Agricultural production is increasingly combined with other economic and noneconomic activities. This leads to complex interactions taking place within rural systems. The recent policy shift towards a more holistic approach in terms of integrated and sustainable models of rural development...