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Management of agrarian risk


  • Hrabrin Bachev


This paper incorporates the interdisciplinary New Institutional Economics and presents a comprehensive framework for analyzing the risk management in the agri-food sector. First, it specifies the diverse (natural, technical, behavioral, economic, policy etc.) type of agrarian risks, and the (market, private, public, hybrid) modes of their management. Second, it defines the efficiency of risk management and identifies (personal, institutional, dimensional, technological, natural) factors of governance choice. Next, it presents stages in analysis of risk management and for the improvement of public intervention in risk governance. Finally, it identifies contemporary opportunities and challenges for risk management in agri-food chain.

Suggested Citation

  • Hrabrin Bachev, 2013. "Management of agrarian risk," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 50-75,76-99.
  • Handle: RePEc:bas:econth:y:2013:i:2:p:50-75,76-99

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    References listed on IDEAS

    1. Алла Кирова & Ирена Зарева & Матю Матев, 2012. "Preservation and Development of Human Capital in Education and Science in Bulgaria (Съхранение и развитие на човешкия капитал в образованието и науката в България) - in Bulgarian," ERI-BAS Books, Bulgarian Academy of Sciences - Economic Research Institute, number 21:p:1-255.
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    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements


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