Acreage response to price and risk: The case of tobacco in Malawi
研究了马拉维商业和小农烟草生产者对价格及价格风险的反应，发现商业农户对价格有反应且规避风险，但反应缺乏弹性；小农户对价格风险不敏感，忽略风险变量会导致估计偏差。
This article presents an empirical investigation of the importance of price and its riskiness among Malawi's commercial and smallholder tobacco producers. Employing a simple econometric risk model, the study finds commercial farmers to be both price-responsive and risk-averse. The response is, however, inelastic. Price risk is empirically less important among smallholder farmers. Substantial biases in estimated coefficients and overall model performance are observed when risk variables are omitted from the equation. This underscores the importance of risk consideration in supply response analyses. Key words: acreage response, price risk, tobacco.