Pastoralists in East Africa's arid and semi-arid lands (ASAL) regularly confront climatic shocks triggering massive herd die-offs and loss of scarce wealth. On the surface, it appears puzzling that pastoralists do not make extensive use of livestock markets to offload animals when climatic...

Do rural households in developing countries make market participation and volume decisions simultaneously or sequentially? This article develops a two-stage econometric method to test between these two competing hypotheses regarding household-level marketing behavior. The first stage models the...