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negligible of fixed, or farmers are highly risk averse, the moral hazard problem can be eliminated. However, if monitoring costs … depend on monitoring effort and the degree of risk aversion is low, only a second-best solution can be obtained. Numerical … simulations suggest that optimal monitoring effort declines with increasing farmer risk aversion …
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This paper carries out an investigation into the socio-economic determinants of couples’ childbearing decisions in Italy. Since having children is in most cases a “couple matter”, the analysis accounts for the characteristics of both the possible parents. Our results do not support...
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