We offer new conceptual insights into the understanding of occupational choice in uncertain rural environments, with a focus on its ex ante (before a shock) and ex post (after a shock) consequences for farmers belonging to different portions of the asset distribution. We model theoretically the...

Economists have long been questioning the usefulness of the traditional, highly regulatory international commodity policy. In recent years, the failure of this policy has become evident. Could price and earnings stabilisation through price risk management instruments represent a viable alternative?