It is well documented that consumers tend to be patriotic in their choices of food. This paper theoretically examines the consequences of such patriotic behavior for agricultural policy, assuming that the policy is decided by the median voter. The analysis is conducted in the framework of a...

Agriculture in China has experienced a compelling growth in the early 1980s, a buoyant upbeat in the early 1990s, and an extended period of low growth after 1995. Decollectivization, mar-ket reforms, public investments and technology have played a critical role during this overall successful...

The ongoing negotiations of the World Trade Organization (WTO) on agriculture has triggered an increased interest in the linkages between commodity production and public goods in agriculture. This paper takes a closer look at this issue. Particular emphasis is placed on production economics and...

Latest developments in investment analysis offer a number of valuable insights into how to evaluate investment opportunities encountering the weaknesses of net present value criterion. More specific, irreversibility, uncertainty and the choice of timing are conditions that net present value does...

The paper discusses the changes of the Hungarian agricultural trade, and shows how different factors (both internal and external) determine the flow of agricultural trade. The analyses show that although the EU plays a role more and more important in the Hungarian trade, the balance became...

This article solves and characterizes optimal decision rules to invest in irreversible land improvements conditional on land tenure insecurity. Economic model is a normative dynamic programming model with known parameter for the one period returns and transition equations. The decision rules are...

Substantial structural change is taking place in EU agriculture. Average farm size is increasing and labour is continuing to move out of the sector. Slow growth in food demand and the effects of technological change on supply are likely to exert downward pressure on real agricultural prices....

The "concept of the co-operative identity" (consisting from the definition, aims and functions of cooperatives and the so-termed co-operative principles) serves as a general theoretical background for the economic analysis of agricultural co-operation. The development of Dutch dairy...

Agricultural policy makers aim to combine strong economic performance with a sustainable use of natural resources. An important step is to move from trying to define sustainability towards developing concrete tools for measuring and promoting achievements in sustainability. Hence, sustainability...

This paper deals with the estimation of a random coefficient model. The virtue of this approach is that it considers firm heterogeneity, which conventional SFA models do not. Applying the model to Polish farms, the results indicate that the conventional random and fixed effect models...