Part-time farmers: determinants of their emergence and the subjective equilibrium
In many countries there is a large number of part-time farms. As a rule, small farms are not able to provide their owners with sufficient income. Due to the lack of mobility and low liquidity of resources in the agrarian sector, part-time farmers continue to engage in agricultural production and keep the farm in ownership. In Russia, in the last decades, there have also emerged and exist high-value personal subsidiary plots, the further fate of which requires the necessary agro-political decisions to be taken. This explains the purpose and relevance of the study. In recent decades, an economic theory has emerged that attempts to explain the phenomenon of the existence and stability of the number of part-time farms. It is aimed to highlight the criteria by which the production resources in the farm household, in particular the endowment with time, are distributed in order to achieve the maximum income. The article reveals the determinants of emergence and describes the behavior of part-time farmers on the basis of the subjective equilibrium theory of the farm household. The study is based on a dialectical approach, a statistical-economic method. Agrarian policy should take into account the specifics of the economic behavior of part-time farms resulting from the subjective equilibrium theory of the farm household.