Market failures and second-best analysis with a focus on nutrition, credit, and incomplete markets
In: Handbook of Agricultural Economics
AbstractThis chapter studies second-best models of nutritional externalities, credit, and incomplete markets for risk, developing implications for welfare-improving government policy using primitive economic building blocks. Using a simple model of altruism wherein the rich obtain utility from the nourishment of the poor, the analysis describes efficiency properties of alternative food subsidy policies, with and without enforcement costs of targeting subsidies to the poor. In three models of imperfect information in credit markets, the chapter characterizes equilibrium financial contracts and policy remedies to inefficiencies. Finally, welfare properties of stereotypical agricultural policies are developed in a stochastic production economy with incomplete markets.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
This chapter was published in:
This item is provided by Elsevier in its series Handbook of Agricultural Economics with number 4-35.
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description
Find related papers by JEL classification:
- Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Bett, R.C. & Bett, H.K. & Kahi, A.K. & Peters, K.J., 2009. "Evaluation and effectiveness of breeding and production services for dairy goat farmers in Kenya," Ecological Economics, Elsevier, vol. 68(8-9), pages 2451-2460, June.
If references are entirely missing, you can add them using this form.