An Empirical Investigation of Farmers’ Behavior under Uncertainty: Income, Price and Yield Variability for Late-Nineteenth Century American Agriculture

This study, first published in 1985, aims to provide objective measures of the risks associated with various crops and livestock in the late nineteenth century and to examine two important issues in American economic history. Knowledge of these risks if a necessity to the profession, if analyses of the uncertainties of postbellum agriculture are to continue. Without this knowledge, assertions which have little or no empirical content will continue to be made. This title will be of great interest to students of economics and agriculture.