Journal Article

Commodity Price Stabilization in a Peasant Economy

Israel Finkelshtain and James A. Chalfant

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 79, issue 4, pages 1208-1217
Published in print November 1997 | ISSN: 0002-9092
Published online November 1997 | e-ISSN: 1467-8276 | DOI:
Commodity Price Stabilization in a Peasant Economy

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The peasant household's preferences for price stabilization are shown to depend on observable parameters describing consumption and production decisions. A measure of willingness to pay is obtained for the case where the household is engaged in both the production and the consumption of the commodity in question. For plausible parameter values, it appears likely that the peasant household will prefer price stabilization and that stabilization of the producer price alone dominates complete stabilization.

Keywords: peasant households; price stabilization; risk; uncertainty; O130; Q180

Journal Article.  0 words. 

Subjects: Agricultural Economics ; Economic Development

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