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Abstract

This study explores how farmers’ managerial behavior in their production planning processes influences the economic performance of their farms, measured through input-oriented and output-oriented technical efficiency. A conceptual framework in which differences in managerial behavior were assumed to be due to bounded rationality was developed. The 3-year means (2006–2008) from a panel data set on grape-producing family farms in FYR Macedonia were analyzed. Technical efficiency was estimated with the nonparametric data envelopment analysis approach. The impact of farmers’ managerial behavior was assessed in a second-stage regression. The results suggest that bounded rationality in farmers’ production planning decisions causes inefficiency

Published in

Managerial and Decision Economics
2011, volume: 32, number: 6, pages: 399–412

SLU Authors

UKÄ Subject classification

Economics and Business
Social Sciences

Publication identifier

  • DOI: https://doi.org/10.1002/mde.1544

Permanent link to this page (URI)

https://res.slu.se/id/publ/34971