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
By introducing reciprocal borrowers and lenders,positive social capital formed by reciprocal expectations can ease financing constraints.Information asymmetry has a significant impact on the relationship between recip...By introducing reciprocal borrowers and lenders,positive social capital formed by reciprocal expectations can ease financing constraints.Information asymmetry has a significant impact on the relationship between reciprocal expectations and financing constraints.Lack of reciprocal expectation is a necessary condition for government intervention.The role of government is to promote the formation and growth of positive social capital,reduce negative social capital,activate favorable reference dependence and avoid adverse reference dependence.Specific measures are:direct investment,subsidy/taxation,administrative orders,alleviation of information asymmetry in financial markets and moral education.Policy Suggestions:the government should pay attention to fostering reciprocal expectations.The development of Inclusive Finance mainly depends on market forces.An important part of it is the government lender who plays an active role in activating the favorable reference dependence.The government should alleviate the information asymmetry in financial markets,reduces the formation of negative social capital,and pays attention to the two sides and limitation of moral education.展开更多
足球合同违约不仅导致赔偿,还可能引发体育制裁。将此类由体育制裁引发的争议提交至国际体育仲裁院(Court of Arbitration for Sport,CAS),须将足球主管机构作为被诉方。在审查此类案件中,仲裁庭首先确认合同违约是否发生在保护期内;对...足球合同违约不仅导致赔偿,还可能引发体育制裁。将此类由体育制裁引发的争议提交至国际体育仲裁院(Court of Arbitration for Sport,CAS),须将足球主管机构作为被诉方。在审查此类案件中,仲裁庭首先确认合同违约是否发生在保护期内;对违约球员、违约俱乐部和诱导球员违约俱乐部施加的体育制裁不同,仲裁庭的审查要件和裁判标准也存在区别。在处理此类案件的过程中,CAS尊重足球主管机构在体育制裁方面的裁量权,同时确保这一裁量权的行使正当及在合理范围之内。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By introducing reciprocal borrowers and lenders,positive social capital formed by reciprocal expectations can ease financing constraints.Information asymmetry has a significant impact on the relationship between reciprocal expectations and financing constraints.Lack of reciprocal expectation is a necessary condition for government intervention.The role of government is to promote the formation and growth of positive social capital,reduce negative social capital,activate favorable reference dependence and avoid adverse reference dependence.Specific measures are:direct investment,subsidy/taxation,administrative orders,alleviation of information asymmetry in financial markets and moral education.Policy Suggestions:the government should pay attention to fostering reciprocal expectations.The development of Inclusive Finance mainly depends on market forces.An important part of it is the government lender who plays an active role in activating the favorable reference dependence.The government should alleviate the information asymmetry in financial markets,reduces the formation of negative social capital,and pays attention to the two sides and limitation of moral education.
文摘足球合同违约不仅导致赔偿,还可能引发体育制裁。将此类由体育制裁引发的争议提交至国际体育仲裁院(Court of Arbitration for Sport,CAS),须将足球主管机构作为被诉方。在审查此类案件中,仲裁庭首先确认合同违约是否发生在保护期内;对违约球员、违约俱乐部和诱导球员违约俱乐部施加的体育制裁不同,仲裁庭的审查要件和裁判标准也存在区别。在处理此类案件的过程中,CAS尊重足球主管机构在体育制裁方面的裁量权,同时确保这一裁量权的行使正当及在合理范围之内。
