Smallholders, Market Failures, and Agricultural Production: Evidence from India

Merfeld, Joshua

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dc.contributor.authorMerfeld, Joshua-
dc.description.abstractMarket completeness has important implications for household behavior. I firmly reject complete markets for smallholders but am unable to do so for non-smallholders. This leads to important differences in production behavior: smallholders reallocate labor across activities less in response to intra-seasonal crop price changes than do non-smallholders. A counterfactual exercise indicates smallholders could increase revenue by almost nine percent if they were to reallocate labor similarly to non-smallholders. The overall pattern of results is consistent with small-holders lacking sufficient wage employment opportunities. Since non-smallholders have to hire in for agricultural production, this lack of opportunities does not affect their decisions.-
dc.publisherIZA – Institute of Labor Economics-
dc.relation.isPartOfSeriesIZA DP No. 13682-
dc.subjectMarket Failures-
dc.titleSmallholders, Market Failures, and Agricultural Production: Evidence from India-
dc.typeWorking Paper-
dc.contributor.affiliatedAuthorMerfeld, Joshua-
dc.type.docTypeWorking Paper-
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