TY  - RPRT
        AU  - Merfeld, Joshua D.
        TI  - Smallholders, Market Failures, and Agricultural Production: Evidence from India
        PY  - 2020/Sep/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 13682
        UR  - https://www.iza.org/publications/dp13682
        AB  - Market 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.
        KW  - markets
KW  - market failures
KW  - agriculture
KW  - labor
        ER  -