Agricultural production and market prices in Mexico

Prices and Production: Agricultural Supply Response in Fourteenth-century England

This paper challenges the growing consensus in the literature (Stone, 2005; Dodds, 2007) that medieval English peasants and manorial managers were price responsive in their production decisions. Using prices of and acreages planted with wheat, barley, and oats on 49 manors held by the bishop of Winchester from 1349-70, we estimate price elasticities of supply for each grain in aggregate and on ...

Rural Poverty, Agricultural Production, and Prices: A Reexamination

In his insightful but unfinished work, Dharm Narain drew attention to the behavior of prices as one of the important factors determining the extent of poverty in rural India. His empirical investigations, summarized in Gunvant Detail contribution 10 this volume (chap 1), provide strong prima facie evidence of such influence. Dhram Narain found that rural poverty is not only inversely related to...

Land Market Development and Agricultural Production Efficiency in Albania

Duopolies with Advance Production and Posted or Market Clearing Prices

The paper reports the results of 39 laboratory duopoly markets for which pricing institution and participant experience are treatments. Duopolies in which producers with complete information about market demand make advance-production output decisions and sell their output at a clearing price (Cournot markets) are contrasted with comparable duopolies who post prices for sale through an efficien...

Shadow vs. Market Prices in Explaining Land Allocation: Subsistence Maize Cultivation in Rural Mexico

Economic models of land allocation may lead to expectations for farmer response that “surprisingly" do not materialize, if market prices fail to reflect the value of farmers' product. “Shadow prices" rather than market prices explain resource allocation better for farmers who attach significant non-market values to their own crops. I extend the theoretical model in Arslan and Taylor (2008) to e...