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Analysis demonstrates input use conservatism in farm households, highlighting risk management strategies.
This article has been presented at the Workshop on Methods for Agricultural Policy Analysis held at the UP Los Baños on August 13-14, 1985. It considers block-recursiveness in a simple household model under different market regimes. Analysis shows conservatism of farm households with respect to input use when homemade insurance through input use is devised.
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Robert E. Evenson (1986) studied this question.
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