Wage Labour in Developing Agriculture: Risk, Effort and Economic Development

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Ashgate, 1998 - Business & Economics - 191 pages
This is an examination of farm decision-making, incorporating the elements of risk in both production, and in particular, in off-farm or casual wage labour. The correlation between labour market risk is examined and found to dampen the employment possibilities in a closed village labour market. The received empirical literature does not consider the influence of risk on the demand for hired labour even though the importance of risk factors have increased over time. The study finds that the influence of risk in the hiring-in of labour may have significant consequences for rural economies.

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Motivating the Major Issues
DecisionTheoretic Models of Farm Behaviour
Risk Preferences and Socioeconomic

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