In Defense of Fence to Fence: Can the Backward Bending Supply Curve Exist?

Politicians dealing with the "farm problem" sometimes lament that output increases when prices go up and when prices go down. This article presents three possible theoretical explanations. In the first, farmers deplete soil (over-farm) when prices are low and imperfect capital markets prev...

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Bibliographic Details
Main Authors: Richard E. Just, David Zilberman
Format: Article
Published: Western Agricultural Economics Association 1992-12-01
Series:Journal of Agricultural and Resource Economics
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