Subjective Equilibrium Theory of the Farm Household (Volume 3) (Developments in Agricultural Economics, Volume 3)

By Chihiro Nakajima

It is obvious that most of the agricultural production in the world is under the control of farm households (or family farms). This book aims to translate the characteristics of the farm household as an economic entity, into an economic theory. The book was originally written in Japanese, but various modifications have been made and new information added to the English version. The author defines the farm household as an economic entity which is a complex of the farm firm, the labourer's household and the consumer's household, and whose behavioural principle is utility maximization. The main purpose of the book is to construct a theoretical model of the decision-making behaviour of the farm household. For this purpose the method of subjective equilibrium analysis, which was used by J.R. Hicks for the consumer's household and the firm in Value and Capital, has been applied to the farm household. The major motif of the book may therefore be called Hicksian motif''.

• Format: Hardcover
• Language: English
• ISBN: 0444426469
• ISBN13: 9780444426468
• Release Date: June 1986
• Publisher: Elsevier Science
• Length: 314 Pages
• Weight: 1.55 lbs.