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Decision making pattern of subsistence farmers in Bulgaria

  • Plamen Mishev

    (University of National & World Economy)

  • Philip Kostov

    (Queen’s University Belfast)

Economic research by and large is dominated by a ‘rationality’ paradigm. Economic decision making within this paradigm is viewed as a maximising procedure. In general the latter represents the decision-making as a choice amongst a well defined set of alternatives. In this paper we question this and analyse the options of the small-scale subsistence farmers in Bulgaria in the way they see them. By applying mental accounting methodology we deduce some significant characteristics of Bulgarian subsistence agriculture.

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File URL: http://128.118.178.162/eps/othr/papers/0409/0409012.pdf
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Paper provided by EconWPA in its series Others with number 0409012.

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Length: 14 pages
Date of creation: 15 Sep 2004
Date of revision:
Handle: RePEc:wpa:wuwpot:0409012
Note: Type of Document - pdf; pages: 14
Contact details of provider: Web page: http://128.118.178.162

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  1. Thaler, Richard, 1981. "Some empirical evidence on dynamic inconsistency," Economics Letters, Elsevier, vol. 8(3), pages 201-207.
  2. Richard Thaler, 1985. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 4(3), pages 199-214.
  3. Selart, Marcus & Karlsson, Niklas & Garling, Tommy, 1997. "Self-control and loss aversion in intertemporal choice," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 26(5), pages 513-524.
  4. Philip Kostov & John Lingard, 2004. "Modelling the effects of subsistence on Bulgarian agricultural performance," Computational Economics 0409002, EconWPA.
  5. Philip Kostov, 2004. "Transition, agricultural decommercialisation, and their implications for quantitative modelling," Others 0409008, EconWPA.
  6. Samuelson, William & Zeckhauser, Richard, 1988. " Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
  7. Hoch, Stephen J & Loewenstein, George F, 1991. " Time-Inconsistent Preferences and Consumer Self-Control," Journal of Consumer Research, University of Chicago Press, vol. 17(4), pages 492-507, March.
  8. Nigel Key & Elisabeth Sadoulet & Alain De Janvry, 2000. "Transactions Costs and Agricultural Household Supply Response," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(2), pages 245-259.
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