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Risk and risk management in English agriculture, c. 1750–1850

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  • DAVID STEAD

Abstract

This article scrutinizes the claim that the residual claimant in English agriculture was the fixed rent tenant farmer rather than the landlord. Examination of methods of agricultural insurance and risk management indicates that the income risks of farming were sizable, not straightforward to manage, and largely borne by the tenant. Thus the farmer's profit appears to have fluctuated by more over time and space than did the rent paid to the landlord. Attempts are made to assess changes over time in the nature and size of the production and price risks to which farmers were exposed.

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  • David Stead, 2004. "Risk and risk management in English agriculture, c. 1750–1850," Economic History Review, Economic History Society, vol. 57(2), pages 334-361, May.
    • Handle: RePEc:bla:ehsrev:v:57:y:2004:i:2:p:334-361
    DOI: 10.1111/j.1468-0289.2004.00280.x
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    Cited by:

    1. Alan De Bromhead & Karol Jan Borowiecki, 2016. "Immigration and the demand for life insurance: evidence from Canada, 1911," European Review of Economic History, European Historical Economics Society, vol. 20(2), pages 147-175.
    2. Anastasia Litina, 2012. "Unfavorable Land Endowment, Cooperation, and Reversal of Fortune," DEM Discussion Paper Series 12-07, Department of Economics at the University of Luxembourg.
    3. repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09iatsh0to2 is not listed on IDEAS
    4. Ruben Durante, 2010. "Risk, Cooperation and the Economic origins of social Trust: an empirical Investigation," SciencePo Working papers hal-00972949, HAL.
    5. Anastasia Litina, 2016. "Natural land productivity, cooperation and comparative development," Journal of Economic Growth, Springer, vol. 21(4), pages 351-408, December.
    6. repec:hal:wpspec:info:hdl:2441/eu4vqp9ompqllr09iatsh0to2 is not listed on IDEAS
    7. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09iatsh0to2 is not listed on IDEAS
    8. Durante, Ruben, 2009. "Risk, Cooperation and the Economic Origins of Social Trust: an Empirical Investigation," MPRA Paper 25887, University Library of Munich, Germany.
    9. Rodriguez Acosta, Mauricio, 2016. "Essays in political economy and resource economic : A macroeconomic approach," Other publications TiSEM 1e39ef1b-43a2-4f95-892c-6, Tilburg University, School of Economics and Management.
    10. David R Stead, "undated". "Fixed Rent Contracts in English Agriculture, 1750-1850: A Conjecture," Discussion Papers 05/01, Department of Economics, University of York.
    11. Ruben Durante, 2010. "Risk, Cooperation and the Economic origins of social Trust: an empirical Investigation," SciencePo Working papers Main hal-00972949, HAL.

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