In this paper we focus on mechanisms of coordination in agricultural contracts. Our approach is intended to advance understanding of social relations of production and distribution of power in agrofood systems. Through an analysis of contracts between farmers and intermediaries (e.g.,...

It is a commonplace observation that risk-averse farmers ought to prefer less risk. In this paper, we provide three qualifications to this commonplace. First, we note that (properly defined) “less risk” need not imply “smaller variance.” Second, we note that when farmers produce under...