ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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On the Allocative Efficiency under Risk in Transforming Traditional Agriculture

Agricultural sectors in the less-developed countries of Asia, Africa, and Latin America are undergoing a spread of new seed varieties and an intensive application of fertiliser and irrigation inputs. It has been observed that, in the allocation of modern inputs, farmers apply a discounting factor on the expert advice because yields diverge considerably from those claimed by the agricultural scientists.

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