While transacting parties may find ways to avoid adverse effects of weak contracting institutions, radical reform reorganising the system of exchange can be very costly. We illustrate this by studying the economic consequences of the dislocation of the Polish dairy supply chain during...

Taking into consideration a significant outflow of Polish farmers from dairy sector, we investigate what factors determine their decision to quit milk sales. We also analyse their current revenues and compare with that of similar households that remained in commercial milk production. Using...