The Ricardian Rent and the Allocation of Land under Uncertainty

Jean-Paul Chavas ()

European Review of Agricultural Economics, 1993, vol. 20, issue 4, 451-69

Abstract: Risk and risk aversion are introduced in a Ricardian model of the pricing and allocation of land. The rental price of land and agricultural production decisions are analysed in a market equilibrium context. It is shown how uncertainty influences the Ricardian rent, farm output, the average productivity of the land, and the nature of market equilibrium. Copyright 1993 by Oxford University Press.

Date: 1993
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European Review of Agricultural Economics is currently edited by Timothy Richards, Salvatore Di Falco, Céline Nauges and Vincenzina Caputo

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