Purpose – Building on the risk balancing theory and on recent discussions the appropriateness of using farm income maximization as behavioural assumption, this paper extends the risk balancing framework by accounting for business-household interactions. The purpose of this paper is to...

Purpose – The purpose of this paper is to present empirical evidence of risk balancing behavior by European farmers. More specifically, the authors investigate strategic adjustments in the level of financial risk (FR) in response to changes in the level of business risk (BR)....

This paper reports on the increased volatility in the milk price received by Flemish dairyfarmers and its consequence on the risk profile of selected Flemish dairy farms. Thevolatility of the milk price has doubled since January 2007. It is suggested that thisincreasing volatility could have a...

Agricultural systems in Europe face accumulating economic, ecological and societal challenges, raising concerns about their resilience to shocks and stresses. These resilience issues need to be addressed with a focus on the regional context in which farming systems operate because farms,...

Many farming systems in Europe are struggling to respond to accumulating economic, environmental, institutional and social challenges. From a resilience perspective, they need three distinct capacities to continue delivering products, income and public goods: robustness, adaptability and...

Context: Resilience is the ability to deal with shocks and stresses, including the unknown and previously unimaginable, such as the Covid-19 crisis. Objective: This paper assesses (i) how different farming systems were exposed to the crisis, (ii) which resilience capacities were revealed and...