Abstract
This paper argues that the emergence of new opportunities for farmers, in the form of biofuel markets, can cause serious food shortages in developing nations. This paper's model seeks to explain how food supply can alarmingly decline due to conscious choices of farmers and not due to any vagaries of nature. In what follows we develop a baseline model for the first time that can explain why in some regions of a developing country, food shortages, and crises can develop and persist as an equilibrium phenomenon.
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