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

by Robert A. McGuire

Measuring agricultural risk in postbellum America

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Paperback New English

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AlbakiReads Editorial

Measuring agricultural risk in postbellum America

Originally published in 1985, this historical economic study examines uncertainty in late-nineteenth-century American agriculture through the variability of farm income, prices, and yields. Robert A. McGuire sets out to develop objective measures of risk across different crops and livestock, placing quantitative evidence at the center of questions about postbellum rural economies. The book is oriented toward two issues in American economic history, using agricultural uncertainty as a basis for assessing claims that might otherwise rest on limited empirical support.

Good fit for readers who enjoy

  • Students of American economic history
  • Readers studying agricultural economics and farm risk
  • Researchers interested in quantitative approaches to nineteenth-century agriculture

Themes

Agricultural riskIncome, price, and yield variabilityPostbellum American agricultureEconomic historyCrops and livestock

Based on publisher information and book metadata.

Book overview

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.

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