Dyer, George A.; Boucher, Steve; Taylor, J. Edward - In: American Journal of Agricultural Economics 88 (2006) 2, pp. 279-291
Microeconomic models posit that transaction costs isolate subsistence producers from output market shocks. We integrate microeconomic models of many heterogeneous households into a general equilibrium model and show that supply on subsistence farms may respond, in apparently perverse ways, to...