Farmers’contract breach behavior is cited as one of the major stumbling blocks in the sustainable expansion of contract farming in many developing countries.This paper examines farmers’contract breach decisions from...Farmers’contract breach behavior is cited as one of the major stumbling blocks in the sustainable expansion of contract farming in many developing countries.This paper examines farmers’contract breach decisions from the perspective of time preferences.The empirical analysis is based on a household survey and economic field experiments of poultry households participating in contract farming conducted in Jiangsu Province,China.A discounted utility model and a maximum likelihood technique are applied to estimate farmers’time preferences and the effect of time preferences on contract breach in the production and sales phases are explored with a bivariate probit model.The results show that,on average,the poultry farmers in the sample are generally present biased and impatient regarding future utility.The regression results show that farmers with a higher preference for the present and a higher discount rate are more likely to breach contracts,and time preferences play a greater role in the production phase than in the sales phase.When considering heterogeneity,specific investments and transaction costs promote contract stability only for farmers with a low degree of impatience.Moreover,compared with large-scale farmers,small-scale farmers’contract breach decisions are more significantly affected by their time preferences.These results have implications for contract stability policies and other issues that are impacted by the linking of behavioral preferences to agricultural decisions.展开更多
This paper analyzes the British economic experience and reaction towards the Arab oil embargo following the October War of 1973. Even though Britain was excluded from the list of embargoed nations, the impact of the e...This paper analyzes the British economic experience and reaction towards the Arab oil embargo following the October War of 1973. Even though Britain was excluded from the list of embargoed nations, the impact of the embargo for the British economy, especially the fear of insufficient energy in the industrial sector, was real. Consequently, Britain had to implement an effective plan to face the oil crisis. She revised her diplomatic strategy and even considered launching military action to protect her interests in the Arab world. The research is based upon archival documents from The National Archives of England and Wales.展开更多
基金supported by the National Natural Science Foundation of China(72003082 and 71573130)the Project of Philosophy and Social Science Research in Colleges and Universities in Jiangsu Province of China(2020SJA1015)+1 种基金the Priority Academic Program Development of Jiangsu Higher Education Institutions,China(PAPD)the China Center for Food Security Studies,Nanjing Agricultural University,China。
文摘Farmers’contract breach behavior is cited as one of the major stumbling blocks in the sustainable expansion of contract farming in many developing countries.This paper examines farmers’contract breach decisions from the perspective of time preferences.The empirical analysis is based on a household survey and economic field experiments of poultry households participating in contract farming conducted in Jiangsu Province,China.A discounted utility model and a maximum likelihood technique are applied to estimate farmers’time preferences and the effect of time preferences on contract breach in the production and sales phases are explored with a bivariate probit model.The results show that,on average,the poultry farmers in the sample are generally present biased and impatient regarding future utility.The regression results show that farmers with a higher preference for the present and a higher discount rate are more likely to breach contracts,and time preferences play a greater role in the production phase than in the sales phase.When considering heterogeneity,specific investments and transaction costs promote contract stability only for farmers with a low degree of impatience.Moreover,compared with large-scale farmers,small-scale farmers’contract breach decisions are more significantly affected by their time preferences.These results have implications for contract stability policies and other issues that are impacted by the linking of behavioral preferences to agricultural decisions.
文摘This paper analyzes the British economic experience and reaction towards the Arab oil embargo following the October War of 1973. Even though Britain was excluded from the list of embargoed nations, the impact of the embargo for the British economy, especially the fear of insufficient energy in the industrial sector, was real. Consequently, Britain had to implement an effective plan to face the oil crisis. She revised her diplomatic strategy and even considered launching military action to protect her interests in the Arab world. The research is based upon archival documents from The National Archives of England and Wales.
