The objective of the paper is to compare the major institutional mechanisms of farm income stabilization (market, government, civil society) in order to find out how the mutual substitution of the mechanisms can serve to overcome their limitations. The major identified limitations include: for...

We use the indirect production function approach in the stochastic frontier framework to estimate separately the output losses due to the presence of a budget constraint and technical inefficiency. We develop a methodology for estimating the severity and testing the significance of the...

Despite some recent criticisms, the conventional radial distance function, which treats undesirable by-products as either frontier shifters or inputs, remains a popular go-to formulation of polluting production processes among practitioners. This unfading popularity is arguably driven by the...

Economic and institutional reforms implemented in Russia during the 1990s have had an immense impact on the country's agricultural sector. The liberalization of trade and the move towards a market economy induced major adjustments in the production structure of Russian agriculture. This paper...