This paper reports estimates of the primitive parameters of a stochastic control model describing the labor decisions of West African small farmers. Maximum likelihood estimates are computed although optimal labor decision rules cannot be derived analytically. Vuong's non-nested model specification test shows that this method yields estimates superior to those derived by assuming that farmers solve a deterministic control problem. Low levels of labor effort are shown to be a consequence of low labor productivity in archaic rain-fed agriculture and of farmers' awareness that, in the absence of a labor market, overly ambitious production plans lead to seasonal manpower shortages. Copyright 1993 by The Econometric Society.
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Article provided by Econometric Society in its journal Econometrica.
Volume (Year): 61 (1993) Issue (Month): 5 (September) Pages: 1173-97 Download reference. The following formats are available: HTML
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