This paper develops a theory of the family farm in conditions of uncertainty where attention is focussed on the labour-input decisions. Specifically, the farm family is faced with two labour decisions, namely with respect to hired labour and to family labour. The framework for analysis is...

Risk and uncertainty have been extensively studied by agricultural economists. In this paper we question (a) the predominant use of static frameworks to formally analyse risk; (b) the predominant focus on risk aversion as the motivation for considering risk and (c) the notion that explicitly...

Farmers' attitude towards risk associated with the availability of energy inputs will influence their investment behavior and demand for energy inputs. In order to analyze policies that reduce the risk in energy availability, some modifications in methods are required. This study, using a...