000267949 001__ 267949
000267949 005__ 20181128231306.0
000267949 022__ $$a1336-9261
000267949 037__ $$a394-2018-937
000267949 041__ $$aeng
000267949 260__ $$c2006
000267949 269__ $$a2006
000267949 336__ $$aJournal Article
000267949 520__ $$aThe objective of the paper is to compare the major institutional mechanisms of farm income stabilization (market, government, civil society) in order to find out how the mutual substitution of the mechanisms can serve to overcome their limitations. The major identified limitations include: for the market mechanism - opportunism and poor insurability of systemic risks; for the government mechanism - opportunistic behavior of recipients of farm income stabilization services, agency problems in the implementation of public programs, high potential for bureaucratization and excessive complexity of insurance programs. The incentive problems of the civil society mechanism do not include mainly those that are characteristic of both markets and governments. However, this mechanism possesses problems specific to cooperative organizations. These problems have been shown to originate from high social capital-dependence of the civil society mechanism, which means that while these problems are able to significantly increase transaction costs of civil society mechanism, the actual size of these transaction costs depends on the availability of social capital in the respective communities. The economic context of transition to market has been shown to create additional constraints on market and government mechanisms and opportunities for the civil society mechanism. Therefore, the optimal role of the government is to invest in social capital in order to reduce the transaction costs of the civil society mechanism.
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000267949 546__ $$aEnglish
000267949 650__ $$aAgricultural and Food Policy
000267949 650__ $$aFarm Management
000267949 6531_ $$ainstitutional mechanisms
000267949 6531_ $$afarm income stabilization
000267949 6531_ $$ainsurance activity
000267949 6531_ $$aincentive attributes
000267949 6531_ $$atransaction costs
000267949 700__ $$aVALENTINOV, Vladislav
000267949 700__ $$aHEIDELBACH, Olaf
000267949 773__ $$j 09$$k 2$$o57$$q50$$tActa Oeconomica et Informatica
000267949 8560_ $$fsheeh247@umn.edu
000267949 8564_ $$s1847587$$uhttp://ageconsearch.umn.edu/record/267949/files/aoi-135.pdf
000267949 8564_ $$s3804065$$uhttp://ageconsearch.umn.edu/record/267949/files/aoi-135.pdf?subformat=pdfa$$xpdfa
000267949 909CO $$ooai:ageconsearch.umn.edu:267949$$pGLOBAL_SET
000267949 980__ $$a394