Risk and Household Behavior in Pakistan’s Agriculture (Book Review)

Abstract

Investigates the incidence of risk and its relationship with the production decisions of agricultural households in Pakistan, focusing on how households' consumption characteristics affect production choices and how their individual decisions affect and are affected by the incompleteness of the rural market structure. Introduces the study area and sample households. Examines the production environment and yield risk; output markets and price risk; the variability in net profits at the individual farm level; the determinants of crop choices under uncertainty; crops, livestock, and household income and consumption; and fodder price risk and the evolution of rural markets. Derives policy implications that are relevant to rural development issues in Pakistan.