The importance of risk preferences in agricultural production has long been identified as an important and preeminent issue of policy relevance. Recent developments in the study of production risk have called into question much of the core of risk production research. This article provides an...

Biofuel policies are a subset of policies designed to achieve energy security, an improved environment, enhanced agricultural incomes, technological change, and overall economic benefits, with increased domestic energy production creating green jobs and foreign exchange savings. In assessing...

We show how leakage differs, depending on the biofuel policy and market conditions. Carbon leakage is shown to have two components: a market leakage effect and an emissions savings effect. We also distinguish domestic and international leakage and show how omitting the former like the IPCC does...

This article develops a framework for analyzing food consumption that relies on the models of Lancaster and Becker, and takes into account production within the household, preferences for various food attributes, and noneconomic family characteristics. Using a data set on purchases of a variety...

In this paper, we explore the relationship between dietary diversity and income in pastoralist households in East Africa. Previous estimates of income elasticities of nutrient demand have ranged from zero to unity. However, these estimates are always based on the total income. One possible...

The concept of parameter identification (for a given specification) is differentiated from global identification (which specification is right). First-order conditions for production under risk are shown to admit many alternative specification pairs representing risk preferences and either...

Arrow's hypotheses regarding the relationship between wealth and risk aversion measures have formed the basis for a large body of empirical research and theory. For example, many have suggested that decoupled farm subsidy payments may increase production as they decrease farmers' risk aversion....

An experiment was conducted to investigate the interaction between consumers’ past eating behaviors, risk perceptions and future information processing procedure. In the study, participants were required to choose whether or not to eat chicken that was potentially be tainted with Avian...

Entrepreneurship means making discrete changes in livelihood activities that involve substantial risks to income. While the rewards may be substantial, transactions costs may make decisions irreversible. This paper draws a comparison between entrepreneurship and technology adoption. Adopting a...