We study a dynamic equilibrium search model where sellers differ in their urgency to liquidate an asset. Buyers strategically make price offers without knowing given seller’s urgency. liquidity and dynamics on the transition path after unexpected shock. Generically, includes phase all buyers offer same price, causing market collapse; however, dispersion resumes finite time, leading recovery bot...

Improving “ last-mile” public service delivery is a recurring challenge in developing countries. Could the widespread adoption of mobile phones provide scalable, cost-effective means for improvement? We use large-scale experiment to evaluate impact phone-based monitoring on program that transferred nearly billion dollars 5.7 million Indian farmers. In randomly selected jurisdictions, officials ...

Many developing countries use food-price subsidies or controls to improve nutrition. However, subsidizing goods on which households spend a high proportion of their budget can create large wealth effects. Consumers may then substitute towards foods with higher non-nutritional attributes (e.g., taste), but lower nutritional content per unit of currency, weakening or perhaps even reversing the su...

It is frequently assumed in several domains of economics that demand functions are invertible prices. At the primitive level preferences, however, corresponding characterization has remained elusive. We identify necessary and sufficient conditions on a utility-maximizing consumer’s preferences for her function to be continuous invertible: strict convexity, monotonicity, differentiability sense ...

The economic impacts of direct payments is a widely studied field in the literature related to Common Agricultural Policy. This article aims provide systematic review income-related payments. In doing so, screened academic on and identified 150 relevant ones, out which 41 were written directly effects.Relevant articles can be classified into four groups: general, distributional, stabilisation o...

The food environment is increasingly hypothesized to cause obesity. This study investigates the impacts of access to supermarkets, the primary source of healthy foods, on the bodyweight outcomes of children. The empirical analysis uses a statewide individual-level panel data set covering health screenings of public schoolchildren along with annual georeferenced business lists and utilizes the p...

The purpose of this paper is to examine the extent to which trust directly affects public support for biotechnology, particularly in applications to food production and genetic modification of crop plants. Unlike previous research in which trust is assumed to be exogenous, this paper posits that trust is endogenously determined. An econometric model is developed that controls for the endogeneit...

The Great Leap Forward disaster, characterized by a collapse in grain production and a widespread famine in China between 1959 and 1961, is found attributable to a systemic failure in central planning. Wishfully expecting a great leap in agricultural productivity from collectivization, the Chinese government accelerated its aggressive industrialization timetable. Grain output fell sharply as th...

Agriculture is the focus of much contention in free trade negotiations. The Japanese government is against liberalizing the rice trade on the grounds that it would threaten “national food security” in the events of such shocks as crop failure, war, and embargo. Trade liberalization is expected to make Japan more dependent upon food imports and to make the Japanese economy more susceptible to th...