Optimal Decisions for Contract Farming under Weather Risk

Optimal positive thinking and decisions under risk

We examine a static one-riskfree-one-risky asset portfolio choice when the investor’s well-being is affected by the anticipatory feelings associated to potential capital gains and losses. These feelings can be manipulated by the choice of subjective beliefs on the distribution of returns. However, the bias of these endogeneous subjective beliefs induces the choice of a portfolio that is subopti...

Optimal Illusions and Decisions under Risk

We examine a static one-risk-free-one-risky asset portfolio choice when the investor’s wellbeing is affected by the anticipatory feelings associated to potential capital gains and losses. These feelings can be manipulated by the choice of subjective beliefs on the distribution of returns. However, the bias of these endogenous subjective beliefs induces the choice of a portfolio that is suboptim...

Contract farming. Partnerships for growth

Inputs and Services Delivery System under Contract Farming: A Case of Broiler Farming§

The paper has analyzed production-related aspects of broiler farming under contract and independent management, and has examined inputs and services provision arrangements. About two-thirds of the contracts are of long duration of three years, and the remaining are of two years or eleven months duration. Surprisingly, none of the contract farmer possesses a copy of the agreement with him. The a...

Optimal Health Care Contract under Physician Agency

We model asymmetric information arising from physician agency, and its effect on the design of payment and health care quantity. The physician-patient coalition aims to maximize a combination of physician profit and patient benefit. The degree of substitution between profit and patient benefit in the physician-patient coalition is the physician’s private information, as is the patient’s intrins...