Since the seminal work of Adam Smith, markets have been considered an efficienttool for co-ordinating the behaviour of economic agents. The basic characteristicof a market economy is that the complex system of interaction amongindividuals is not centrally coordinated. Under the assumption of...

We analyze the current state and future requirements of an agricultural income stabilization mechanism in a transition country – namely, the crop insurance system in Kazakhstan. Three objectives will be pursued: First, factors influencing the development of the crop insurance market will be...

The study introduces an ex-ante evaluation concept into the analysis of weather-based index insurance effectiveness. We conduct our ex ante analysis by distinguishing between two consecutive periods: the first period is used for determining insurance parameters and optimal number of insurance...

The paper evaluates the effectiveness ofseveral index-based crop insurance schemes bycomparing results from two alternative evaluationapproaches. We apply the common ex post approachfrom the literature by specifying and evaluatinginsurance contracts by means of the data for the samehistorical...

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A time series model is estimated to identify the interrelation among prices on the international and the EU domestic market for butter. Although the findings were not derived from a causal model, the inspection of the data provides economically reasonable and important insights in structural...

A time series model is estimated to identify the interrelation among prices on the international and the EU domestic market for butter. Although the findings were not derived from a causal model, the inspection of the data provides economically reasonable and important insights in structural...

The challenge of implementing EU quality and safety standards for food production and trading is one of the driving forces behind the restructuring of the agrofood chains in Central and Eastern European Countries (CEEC). The progress made in the compliance process not only varies amongst sectors...

The availability of efficiency estimation software – freely distributed via the internet and relatively easy to use – recently inflated the number of corresponding applications. The resulting efficiency estimates are used without a critical assessment with respect to the literature on...

The availability of efficiency estimation software –freely distributed via the internet and relatively easy to use –recently inflated the number of corresponding applications. The resulting efficiency estimates are often used without a critical assessment with respect to the literature on...