The Value of Subsistence Production

Most anthropologists and economists examining peasant agriculture have either not attempted to place a monetary value on crops consumed at home or have valued such production at market (selling) price. This article argues that this can lead to incomplete or erroneous analyses of agricultural behavior, since a sensible farmer should often value subsistence production near retail (buying) price. Theoretical problems associated with assigning monetary values to subsistence production are discussed, some evidence on how farmers actually value crops consumed at home is presented, and suggestions for future research are made.