Physical Risks in Farm Production: Selected References, 1930-1948

Excerpts from the Introduction and Preface: Agricultural risk, as a field of research, is in need of further development. Previous studies in this field have dealt with the problems involved in insuring farm risks, but little attention has been directed to risk from the standpoint of the individual farm. The effects of risk on the organization and functioning of the farm business, and on the income of the farm family deserve careful study. This bibliography is intended to serve students and research workers who are interested in the economic problems that arise from the risks of farm production. Yield risks from insects, diseases, and adverse weather, the risk of livestock losses, property losses from fire and lightning, and the personal risks of accident and sickness constitute major classes of natural hazards that are of economic importance in farm operation. Two types of references have been included. One type consists of references with information on the nature of the hazards, their frequency of occurrence, and the extent of the losses realized under various conditions of farming. These are listed by specific risks. The other type concerns the economic incidence of risk and its effect on the structure and functioning of the farm enterprise. The references in the latter category were selected largely in terms of whether they appeared to have value for those interested in research on the economic implications of risk. Hence this category includes a rather complete listing of references from the current literature of economic theory.