This paper examines the long-term effects of shocks experienced by a traditional pastoral community, with the aim of testing the micro-level poverty trap hypothesis. It uses the instrumental probit technique to examine empirically the way that shocks, poverty traps, and the social capital base...

A challenge in analyzing the spillover impact of sheriff’s sales on neighboring properties is the recognition that housing markets are segmented. In this fashion, the large heterogeneous market of housing is broken down into small, more homogeneous segments, and buyers emerge that match...

A Finnish-based forest products company recently purchased the paper mill in a small community in northeastern Wisconsin (pop. 1,800). The 362 responses to a mailed survey demonstrated the community’s perception that their future is uncertain. Quantitative and qualitative analyses...

Making farm decisions is difficult, especially making decisions about selling and pricing wheat in deregulated supply chains. This study, conducted prior to export deregulation, sought to identify which factors were important to northern New South Wales (NSW) wheat growers when they were making...

Making farm decisions is difficult, especially making decisions about selling and pricing wheat in deregulated supply chains. This study, conducted prior to export deregulation, sought to identify which factors were important to northern New South Wales (NSW) wheat growers when they were making...

Purpose The purpose of this paper is to benchmark alternatives of decision problems that include risk and uncertainty considering different risk attitudes via a new data envelopment analysis (DEA) decision model. Design/methodology/approach A new utility function of strict bounds is applied in a...

Purpose – While behavioral economic experiments have uncovered a wealth of insights concerning how people decide in the face of risk and uncertainty, the implications of these insights for the demand for agricultural insurance are under-explored. The purpose of this paper is to report on...