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Commodity Price Stabilization in a Peasant Economy

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  • Israel Finkelshtain
  • James A. Chalfant

Abstract

The peasant household's preferences for price stabilization are shown to depend on observable parameters describing consumption and production decisions. A measure of willingness to pay is obtained for the case where the household is engaged in both the production and the consumption of the commodity in question. For plausible parameter values, it appears likely that the peasant household will prefer price stabilization and that stabilization of the producer price alone dominates complete stabilization. Copyright 1997, Oxford University Press.

Suggested Citation

  • Israel Finkelshtain & James A. Chalfant, 1997. "Commodity Price Stabilization in a Peasant Economy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1208-1217.
    • Handle: RePEc:oup:ajagec:v:79:y:1997:i:4:p:1208-1217
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    File URL: http://hdl.handle.net/10.2307/1244278
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    Cited by:

    1. Haile, Mekbib G. & Wossen, Tesfamicheal & Kalkuhl, Matthias, 2019. "Access to information, price expectations and welfare: The role of mobile phone adoption in Ethiopia," Technological Forecasting and Social Change, Elsevier, vol. 145(C), pages 82-92.
    2. Boyd, Chris M. & Bellemare, Marc F., 2022. "Why not insure prices? Experimental evidence from Peru," Journal of Economic Behavior & Organization, Elsevier, vol. 202(C), pages 580-631.
    3. Delphine Boutin, 2011. "D’une crise à l’autre : Mesurer l’impact des prix alimentaires sur la pauvreté," Larefi Working Papers 1106, Larefi, Université Bordeaux 4.
    4. World Bank, 2005. "Managing Food Price Risks and Instability in an Environment of Market Liberalization," World Bank Publications - Reports 8264, The World Bank Group.
    5. Matthias Kalkuhl & Lukas Kornher & Marta Kozicka & Pierre Boulanger & Maximo Torero, 2013. "Conceptual framework on price volatility and its impact on food and nutrition security in the short term," FOODSECURE Working papers 15, LEI Wageningen UR.
    6. Delphine Boutin, 2011. "D'une crise à l'autre : mesurer l'impact des prix alimentaires sur la pauvreté," Working Papers hal-00637608, HAL.
    7. Bellemare, Marc F. & Barrett, Christopher B. & Just, David R., 2010. "The Welfare Impacts of Commodity Price Fluctuations: Evidence from Rural Ethiopia," MPRA Paper 24457, University Library of Munich, Germany.
    8. Kindie Getnet, 2009. "Optimising the policy cost of market stabilisation: Which commodity matters most in Ethiopia?," Journal of International Development, John Wiley & Sons, Ltd., vol. 21(3), pages 362-378.
    9. Chen, Jing & Rozelle, Scott & Carter, Colin A., 1999. "Grain Price Stability And Farmer Decision Making In China," 1999 Annual meeting, August 8-11, Nashville, TN 21538, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Bird, Samuel S., 2017. "Agricultural Technology Adoption and Staple Price Risk in Kenya," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258213, Agricultural and Applied Economics Association.
    11. Matthias Kalkuhl & Mekbib Haile & Lukas Kornher & Marta Kozicka, 2015. "Cost-benefit framework for policy action to navigate food price spikes. FOODSECURE Working Paper No 33," FOODSECURE Working papers 33, LEI Wageningen UR.
    12. Christophe Gouel, 2013. "Rules versus Discretion in Food Storage Policies," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(4), pages 1029-1044.
    13. Delphine Boutin, 2011. "D’une crise à l’autre : Mesurer l’impact des prix alimentaires sur la pauvreté," Larefi Working Papers 201106, Larefi, Université Bordeaux 4.
    14. Boyd, Chris M., 2020. "Urgent Yet Ineffective? The Welfare Impacts of Potato Price Stabilization in Peru," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304293, Agricultural and Applied Economics Association.
    15. Oyakhilomen Oyinbo & Jordan Chamberlin & Tahirou Abdoulaye & Miet Maertens, 2022. "Digital extension, price risk, and farm performance: experimental evidence from Nigeria," American Journal of Agricultural Economics, John Wiley & Sons, vol. 104(2), pages 831-852, March.

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