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Rapport

Risk in the commodity chain: The sugar example

Abstract : A sectoral model of the world sugar industry is presented. Results suggest that sugar prices are naturally chaotic. As a consequence, and contrary to the conventional creed, liberalisation, instead of damping fluctuations out, is likely to increase them. But since decision makers are risk averse, and restrain production when faced with uncertain prices, the average price level without is significantly lower than with liberalisation, thus jeopardising the benefits of a more efficient use of resources due to comparative advantage. The policy implication is that care should be taken not to create undesired situations for the right purpose of a better division of labour between nations.
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https://hal.inrae.fr/hal-02827169
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Soumis le : dimanche 7 juin 2020 - 01:29:59
Dernière modification le : vendredi 12 juin 2020 - 10:43:26

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2001_Boussard_IAAE_1.pdf
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  • HAL Id : hal-02827169, version 1
  • PRODINRA : 426756

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Jean-Marc Boussard, Marie-Gabrielle Piketty. Risk in the commodity chain: The sugar example. 2001, 30 p. ⟨hal-02827169⟩

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