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This paper proposes a methodological approach for eliciting farmers' utility functions. The methodology is non-interactive, in that the parameters defining the utility function are obtained by observing the actual behaviour adopted by farmers without resorting to the use of questions on random lotteries. The methodology recognises that the farmer attempts to achieve several objectives, most of which are in conflict. The methodological approach is applied to a large farmer in the county of Vega de Cdrdoba, Spain. The primary empirical finding of this research was a satisfactory explanation of farmers' behaviour through a multi-attribute utility function with three attributes: working capital, risk and level of relative profitability.

a b s t r a c tThis article develops a comparative methodology for the evaluation of national land administration systems. We propose a set of quantitative and qualitative indicators with benchmarks for each one of them that signal possible venues to improve the administration's structure and budgetary/management arrangements, in order to bring about the following goals: (1) to contribute to public sector financing through taxes; (2) to encourage the productive and sustainable use of land, and (3) to facilitate access to land for low-income citizens. This methodology was applied to the cases of Honduras and Peru in order to refine our draft evaluation indicators, while evaluating the systems of both countries. Here we present the final refined indicators and benchmarks, and the conclusions from both case studies.

Indicators for extensive land-use systems in the Iberian Peninsula are developed in this chapter. Indicators are defined for dry cereal steppes and dehesas. Most of the indicators proposed reflect driving forces rather than acting as indicators on the state of the environment. Statistical data are available to a limited extent only, and options are provided to assess such farming systems at a regional, or even at a local or farm level.

This article offers a comprehensive analysis of the problem of choosing between alternative market risk management instruments. We model farmers' behavior to optimize the certainty equivalent, formulated by a mean-variance model, by combining instruments with and without basis risk. Results are expressed as the demands for hedging with futures, forward contracts and insurance. Theoretical results are applied to a selection of Spanish producers of fresh potatoes, a sector that is exposed to significant market risks. Amsterdam's Euronext provides potato futures prices, and the recently launched revenue insurance in Spain provides the example for price insurance. Three conclusions summarize the article's main findings. First, we show that Spanish potato revenue insurance subsidies are a factor that determines the instrument rankings and choice. Second, the efficiency of insurance subsidies is generally low. Finally, the Amsterdam potato futures market does not provide a cost-effective means to manage price risks for Spanish fresh potato growers. Copyright 2007 International Association of Agricultural Economists.