The economic costs of drought and rice farmers' coping mechanisms are analyzed using time series and farm survey data from China, India and Thailand. The economic cost was estimated to be 2-6% of the value of output. Farmers' coping mechanisms were found to be inadequate in preventing...

The complexity of modelling risk in farming systems is explained and the artistic nature of the task noted. A brief outline is presented of an appropriate conceptual framework, drawing attention to the merits of stochastic efficiency criteria for analysis of systems when risk preferences of...