The way in which farmers form their price and yield expectations and the consequences of these expectations on ensuing market equilibrium when production is risky are examined. If rational expectations are assumed, competitive market equilibria can be simulated in sectorwide mathematical programming models. This simulation is illustrated using a linear programming model of agricultural production at a subsector level in Mexico. Competitive markets...
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详细
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1977/02/28
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日志文章
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REP37
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1
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1
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2010/07/10
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Disclosed
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Farmer's expectations, risk aversion, and market eequilibrium under risk
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farmer