Farm households production theories: a review of institutional and behavioural responses

Mariapia Mendola ()

Departmental Working Papers from Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano

Abstract: This paper presents a synthesis of the main theoretical and empirical contributions that analyse production choices of farm households living and operating in developing countries. The review is particularly concerned with recent micro-economic contributions that highlight the trade-off farm households typically face, between full-income risk and expected return, while making production decisions in a context of weak financial institutions in low-income settings. The same literature point out how weak institutions and farm households behavioural responses to risk-return trade-off may lead to situations of poverty traps

Keywords: Farm Households; Production Choices; Income Smoothing; Poverty (search for similar items in EconPapers)
JEL-codes: D13 O13 Q12 (search for similar items in EconPapers)
Date: 2005-01-01
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Citations: View citations in EconPapers (4)

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