U.S. agriculture had a very good year in 1997, with profits widely shared among the nation's farmers. While few producers could boast of bell-ringer profits, as they did in 1996, nearly all could claim a good year. The year was especially welcome to the nation's cattle producers, who had...

In this paper, we use data from the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) survey of households in Burkina Faso, to assess market efficiency. Two methods based on testable implications of the Agricultural Household Model (AHM) are used. The first is based on...