English, Article edition: IS THE MARKET FAILING AGRICULTURAL PRODUCERS WHO WISH TO MANAGE RISKS? STEVEN C. BLANK; COLIN A. CARTER; JEFFREY McDONALD

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Bookmark: http://trove.nla.gov.au/version/183655
Physical Description
  • article
Language
  • English

Edition details

Title
  • IS THE MARKET FAILING AGRICULTURAL PRODUCERS WHO WISH TO MANAGE RISKS?
Author
  • STEVEN C. BLANK
  • COLIN A. CARTER
  • JEFFREY McDONALD
Physical Description
  • article
Notes
  • The variability of producers 'net income levels is largely a function of variability in output price, yield, and input prices. Yet, the tools available to manage price risk and yield risk are not widely used by producers. Is the market failing to provide agricultural producers with effective risk management tools? To identify producers' needs, the paper establishes the relative importance of price and yield risk by decomposing the variability of revenues from a sample of crops in California agriculture. The risk tools available to producers of those commodities are compared to producers needs for tools. Results indicate that "market failure" is readily apparent in markets for tools to manage risks. However, the nature of these missing or incomplete markets does not necessarily imply inefficiencies that would justify government intervention. Copyright 1997 Western Economic Association International.
  • RePEc:bla:coecpo:v:15:y:1997:i:3:p:103-112
Language
  • English
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