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Decision making pattern of subsistence farmers in Bulgaria

Author

Listed:
  • Plamen Mishev

    (University of National & World Economy)

  • Philip Kostov

    (Queen’s University Belfast)

Abstract

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.

Suggested Citation

  • Plamen Mishev & Philip Kostov, 2004. "Decision making pattern of subsistence farmers in Bulgaria," Others 0409012, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpot:0409012
    Note: Type of Document - pdf; pages: 14
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/othr/papers/0409/0409012.pdf
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    References listed on IDEAS

    as
    1. Philip Kostov & John Lingard, 2004. "Modelling the effects of subsistence on Bulgarian agricultural performance," Computational Economics 0409002, University Library of Munich, Germany.
    2. 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.
    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. Hoch, Stephen J & Loewenstein, George F, 1991. "Time-Inconsistent Preferences and Consumer Self-Control," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 17(4), pages 492-507, March.
    5. Thaler, Richard, 1981. "Some empirical evidence on dynamic inconsistency," Economics Letters, Elsevier, vol. 8(3), pages 201-207.
    6. Richard H. Thaler, 2008. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 27(1), pages 15-25, 01-02.
    7. Samuelson, William & Zeckhauser, Richard, 1988. "Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
    8. Philip Kostov, 2004. "Transition, agricultural decommercialisation, and their implications for quantitative modelling," Others 0409008, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Vassilev, Zlatan, 2007. "Evaluating the Financial Position and Performance of a typical Dairy Farm in Bulgaria," MPRA Paper 13982, University Library of Munich, Germany.
    2. Philip Kostov & John Lingard, 2004. "Rural Development as Risk Management," Others 0409013, University Library of Munich, Germany.
    3. Philip Kostov & John Lingard, 2004. "Subsistence Agriculture in Transition Economies: Its Roles and Determinants," Journal of Agricultural Economics, Wiley Blackwell, vol. 55(3), pages 565-579, November.

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    More about this item

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • D79 - Microeconomics - - Analysis of Collective Decision-Making - - - Other
    • D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other

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