This article empirically assesses the effect of unobserved transaction costs for Nigerian farmers when investing in irrigation pumps. The unobserved stochastic threshold (UST) model popularly used in labor economics literature is applied, and is compared with two models, the Tobit and the...

The conventionally used equilibrium displacement model (EDM) provides a convenient way to estimate the distribution of welfare gains from crop productivity growth across different population groups. However, it ignores the high market margin. Little research has been done on the potential bias...