This paper proposes a new interpretation of the farm size-productivity relationship. Using two rounds of the Ethiopian Rural Household Survey, and drawing on earlier work on five countries in Sub-Saharan Africa, the paper shows that the relationship between farm size and productivity is neither...

This paper proposes a new interpretation of the farm size-productivity relationship. Using two rounds of the Ethiopian Rural Household Survey, and drawing on earlier work on five countries in Sub-Saharan Africa, the paper shows that the relationship between farm size and productivity is neither...

The paper illustrates a theoretical model of real option value applied to the problem of land development.Making use of the 1998-2001 Kyrgyz Household Budget Survey, we show that when the hypothesis of decreasing return to scale holds, the relation between the threshold value of revenue per...