Resource Allocation and Risk: A Case Study of Smallholder Agriculture in Kenya
暂无分享,去创建一个
A model of economic behavior under conditions of uncertainty demonstrates that the traditional tests of economic efficiency in agriculture are generally misspecified. A data set from Kenya is used in testing a risk-aversion model; the results permit the following conclusions. Risk plays an important role in farmer decision making; farmers are efficient in their allocation of resources; and lack of credit availability is a major bottleneck in obtaining increased agricultural productivity for the regions studied in Kenya.
[1] J. Neumann,et al. Theory of games and economic behavior , 1945, 100 Years of Math Milestones.
[2] A. Stuart,et al. Portfolio Selection: Efficient Diversification of Investments , 1959 .
[3] Theodore W. Schultz,et al. Transforming Traditional Agriculture , 1964 .
[4] P. A. Yotopoulos,et al. Allocative Efficiency in Economic Development , 1967 .
[5] Farm Management in Peasant Agriculture: An Empirical Study , 1967 .