In this paper we present an empirical analysis of farmers' contracting choice in the Hungarian milk sector using 2005 milk producer survey data, employing transaction cost economics. We focus on analysing some key determinants of farmers' contracting choices: type of contracts, duration, number...

The agriculture is traditional risky business, but in transition countries agricultural producers should face some additional difficulties. The agri-food chains are still suffering from underdeveloped market institutions creating severe barriers for price discovery and high transaction costs to...

In some cases spot markets failure to govern to whole or a part of the marketing channel effectively and contractual relations are gaining more importance. It is especially true in case of agricultural markets, since these markets became more differentiated and market players are vulnerable in...