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Risks and Risk Management in Agri-food Chains

Journal of Economics Bibliography

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Title Risks and Risk Management in Agri-food Chains
 
Creator BACHEV, Hrabrin I.; Institute of Agricultural Economics, Sofia
 
Subject Agri-food chain and risk management; Market, private, and public governance; Fukushima nuclear disaster.
N50; Q00; Q18.
 
Description Abstract. Risks management studies in the agri-food sector predominately focus on the technical methods and the capability to perceive, prevent, mitigate, and recover from diverse risks. In most economic publications the risks are usually studied as another commodity regulated by the market supply and demand, and the farmers “willingness to pay” for an insurance contract modeled. At the same time, the risk management analysis largely ignore a significant “human nature” based (bounded rationality, opportunism) risk, critical factors for the managerial choice such as the institutional environment and the transaction costs, and diversity of alternative (market, private, collective, public, hybrid) modes of risk management. This paper incorporates the interdisciplinary New Institutional Economics and presents a comprehensive framework for analyzing the risk management in the agri-food sector. First, it specifies the diverse (natural, technical, behavioral, economic, policy etc.) type of agri-food risks, and the market, private, public and hybrid modes of their management. Second, it defines the efficiency of risk management and identifies (personal, institutional, dimensional, technological, natural) factors of governance choice. Third, it presents stages in the analysis of risk management and for the improvement of public intervention in the risk governance. Forth, it identifies the contemporary opportunities and challenges for the risk governance in the agri-food chain. Finally, it identifies challenges, assesses efficiency, and present responses of the agri-food risk management after the Fukushima nuclear accident in Japan in March 2011.Keywords. Agri-food chain and risk management, Market, Private and public governance, Fukushima nuclear disaster.JEL. Q10, Q56, R33.
 
Publisher Journal of Economics Bibliography
 
Contributor —
 
Date 2016-06-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEB/article/view/742
10.1453/jeb.v3i2.742
 
Source Journal of Economics Bibliography; Vol 3, No 2 (2016): June; 312-357
2149-2387
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEB/article/view/742/936
 
Rights Copyright (c) 2016 Journal of Economics Bibliography
http://creativecommons.org/licenses/by-nc/4.0