The role of risk mitigation in production efficiency: A case study of potato cultivation in the Bolivian Andes
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We quantify the costs of two different kinds of field level diversification in terms of efficiency losses and yield forgone. Efficiency falls as the number of fields planted grows and for greater distances from the dwelling and a particular field. Spatial separation of multiple fields is also associated with inefficiency, and off-farm income generation further creates inefficiency. The paper quantifies the costs of diversification in the Andean region of Bolivia.