Theoretical models on group lending assume the formation of groups of homogenous risk types. Recent theoretical and empirical findings challenge this view arguing that when markets for insurance are missing, risk homogeneity may not hold any more and risk heterogeneity can be the optimal...

The structure of the dairy processing industry in the European Union has changed enormously in recent decades. In many countries, the industry is characterized by a few large companies with a big market share accompanied by many small processors that often produce for niche markets. This article...

This article provides an empirical analysis of farm-gate tomato price negotiations under asymmetric information. Regression models are estimated to analyze when and by how much sellers stick to their initial ask prices and what explains the variation in the initial ask-offer price spread....

Reforms have strongly affected agricultural employment in transition countries but in remarkably different ways. We present a theoretical model and an empirical analysis to explain differences in labor adjustment during transition. We show that the differences are due to a combination of...