Assumptions on the perceptions of risks, made in agricultural economics literature, are recognized to be over-simplistic. For example most studies assume that risks are independent and static, while in reality most risks are interlinked and dynamic. We propose an alternative method to identify...

This paper uses a mechanistic frontier approach as a reference to evaluate the ability of conventional parametric (SFA) and non-parametric (DEA) frontier approaches for analyzing economic-environmental trade-offs. Conventional frontier approaches are environmentally adjusted through...

Due to pressures such as climate change, globalization, price volatility and scarcity of natural resources, our agri-food chain is urged to make a transition towards more sustainable production. How to organize such a transition, given the various stakeholders involved, and how to monitor...

Despite the great pressure on global natural resources, few LCA studies focus on total resource consumption and the efficiency of the use of those resources. Moreover, a total resource use assessment for agricultural systems is highly relevant because many of these systems have become high...

Purpose – Building on the risk balancing theory and on recent discussions the appropriateness of using farm income maximization as behavioural assumption, this paper extends the risk balancing framework by accounting for business-household interactions. The purpose of this paper is to...

Purpose – The purpose of this paper is to present empirical evidence of risk balancing behavior by European farmers. More specifically, the authors investigate strategic adjustments in the level of financial risk (FR) in response to changes in the level of business risk (BR)....

This paper suggests spatial models as an alternative to the Armington approach to model bilateral trade. While the use of spatial models has been accepted for decades, they are rarely chosen for such analyses. However, problems inherent in the application of the Armington approach can be...