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Registros recuperados: 1.657 | |
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Mishra, Ashok K.; El-Osta, Hisham S.. |
Enterprise diversification is a self-insuring strategy used by farmers to protect against risk. This paper examines the impact of various farm, operator, and household characteristics on the level of on-farm diversification. Results provide evidence that larger farms are more specialized. Also, farmers who participate in off-farm income and farms located near urban areas are less likely to diversify. Additionally, results also show a significant positive relationship between diversification and farm/crop insurance and sole proprietorships. Finally, there is also evidence that farms that received government payments are more diversified than their counterparts. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Farm Management; Risk and Uncertainty. |
Ano: 2002 |
URL: http://purl.umn.edu/19711 |
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Ferreira Junior, Silvio; Baptista, Antonio Jose Medina dos Santos. |
Diante da importância socioeconômica da cafeicultura para o município de Viçosa, a Secretaria Municipal de Agricultura e Meio Ambiente (SEAMA) lançou, em 1998, o “Programa Municipal de Fomento à Cafeicultura” (ProCafé). O presente trabalho procurou mensurar e analisar os benefícios financeiros desse programa para o pequeno produtor local, com o intuito de fornecer subsídios às autoridades e aos produtores efetivos e potenciais no que concerne aos riscos e oportunidades inerentes ao investimento. Os indicadores de viabilidade e a análise de sensibilidade mostraram, claramente, que é financeiramente viável investir na atividade. O programa ProCafé proporciona benefícios financeiros adicionais, melhorando significativamente a viabilidade e reduzindo... |
Tipo: Journal Article |
Palavras-chave: Cafeicultura; Rentabilidade; Análise de risco; Risk and Uncertainty. |
Ano: 2003 |
URL: http://purl.umn.edu/56822 |
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Brown, Zachary S.; Bellemare, Marc F.. |
We develop a method to structurally estimate principal-agent models by ordinary least squares (OLS). We set up a general principal-agent model which explicitly incorporates the wealth levels of each party and the opportunity cost to the agent of entering the contract. This yields an optimal contract that is linearized by way of an Nth order Taylor approximation. This in turn imposes N(3N-1)/2 restrictions on the parameters and yields an empirical test of the canonical principal-agent model. In the application, we consider the case where N = 2 and apply our method to a sample of land tenancy contracts in rural Madagascar. Empirical tests lead to consistent failure to reject the hypotheses derived from our structural model, which lends support to our... |
Tipo: Working or Discussion Paper |
Palavras-chave: Principal-Agent Models; Contract Theory; Structural Estimations; Risk and Uncertainty; C12; C13; D86; O12; Q12. |
Ano: 2009 |
URL: http://purl.umn.edu/49368 |
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Xu, Pei; Alexander, Corinne E.; Patrick, George F.; Musser, Wesley N.. |
Producers' risk perceptions, as well as their empirical measurement, have been an on-going concern for agricultural economists. Identification and categorization of producers' risk attitudes is important in both research and extension contexts. This study explores some alternative measures of farmers' attitudes and their relationships with observed producer behavior. The effect of farmers' personality types, as derived from the Myers-Briggs personality type indicator test, on marketing behavior is also explored. There were positive and statistically significant correlations of producers' risk attitudes in various areas of the farm business. However, there are also some differences in producers' willingness to risk, especially in the finance area.... |
Tipo: Working or Discussion Paper |
Palavras-chave: Farm Management; Risk and Uncertainty. |
Ano: 2005 |
URL: http://purl.umn.edu/28677 |
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Berg, Ernst; Schmitz, Bernhard; Starp, Michael; Trenkel, Hermann. |
The risks associated with farming activities are likely to increase in the future. It, therefore, appears worthwhile to analyse new risk management instruments. This paper investigates weather derivatives for which a market has already emerged in the USA. Contrary to traditional financial derivatives, their payoff is determined by future weather events, such as temperature or precipitation. Thus, they hedge risks which result from climate. Since they address production risks they are complementary to instruments that hedge price risks, such as future markets. The objective of the paper is to evaluate the economic impacts of weather derivatives and to assess their potential as farm level instruments of risk management. After outlining the main... |
Tipo: Journal Article |
Palavras-chave: Weather derivatives; Weather risk; Risk management; Stochastic simulation; Financial Economics; Risk and Uncertainty. |
Ano: 2005 |
URL: http://purl.umn.edu/97213 |
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Pannell, David J.. |
A biologically realistic model of crop yield response to herbicide application is presented. It includes functions for weed mortality from herbicide application and yield loss due to surviving weeds. The optimal herbicide rate and two types of decision thresholds are derived theoretically and illustrated with empirical examples. Responses of the various decision criteria to changes in parameters are also examined theoretically and empirically. A multidimensional threshold for weeds based on weed density and weed-free yield is presented. The issue of farmers using other than officially recommended herbicide rates is discussed. |
Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
Ano: 1990 |
URL: http://purl.umn.edu/22352 |
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Jose, H. Douglas; Tilmon, H. Don. |
A rapidly changing business environment has dictated a need for farmers to improve their risk management skills. The 1996 Federal Agricultural Improvement and Reform Act (FAIR) also created a new environment for American farmers by eliminating planting restrictions and deficiency payments. Congress recognized the changing environment by mandating the Secretary of Agriculture to initiate a risk management education program. A memorandum of understanding specified the responsibilities of the federal agencies involved in risk management services and education. A work group representing all public and private organizations concerned with risk management services and strategies was convened. The work group established a set of objectives, the five... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Farm Management; Risk and Uncertainty; Teaching/Communication/Extension/Profession. |
Ano: 2002 |
URL: http://purl.umn.edu/6936 |
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Lehmann, Niklaus; Finger, Robert. |
We investigate impacts of climate change (CC) and likely increases in price risks on income, income variability, utility and on adaptation responses in crop production in Western Switzerland. To this end, a bio-economic model is used that combines a crop growth model with an economic decision model non-parametrically using genetic algorithms. Our analysis focuses on the farm-level, which enables us to integrate a much wider set of potential adaptation responses in our analysis. The model is applied to four scenarios that represent likely changes in environmental conditions due to CC as well as increasing price risks due to market liberalization, and combinations thereof. It shows that CC has the larger influence on farm-level income and utility as well as... |
Tipo: Presentation |
Palavras-chave: Genetic Algorithms; Agricultural Modeling; Climate Change; Price risks; Risk and Uncertainty; Q12. |
Ano: 2012 |
URL: http://purl.umn.edu/122533 |
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Patrick, George F.; Blake, Brian F.; Whittaker, Suzanne H.. |
Magnitude estimation, a technique developed by psychology for obtaining ratio scaled values, was used to derive risk-income preferences of ninety-one central Indiana farmers. Both variability-income and bankruptcy-income measures were developed and related to farmers' socio-economic attributes. Wealth and education had limited effects compared with off-farm employment, percent debt and expected levels of income, percent debt and net worth growth. Magnitude estimation provided reliable estimates of preferences. Farmers gave greater importance to the bankruptcy-income measure of risk-income preferences, but only a small portion of the variation of either measure could be explained. |
Tipo: Journal Article |
Palavras-chave: Farm Management; Risk and Uncertainty. |
Ano: 1981 |
URL: http://purl.umn.edu/32583 |
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Myyra, Sami; Pietola, Kyosti. |
This paper tests for the extent of moral hazard problem within a Crop Damage Compensation (CDC) program that is similar to traditional multi peril crop insurances but is publicly funded and openly accessible for all farmers in Finland. We further estimate the potential of using the observed farmer and farm characteristics in ranking and classifying farms according to their incidence towards losses when they are protected. The data are the claimed and granted indemnity payments for each farm over the fifteen year period of 1995-2009. These data are complemented by data on total farm population in 2005. The data suggest that most of the farmers (60%) have not made any claims in the CDC program over the 15 year period. Those farms that claimed compensation... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Farm Management; Risk and Uncertainty. |
Ano: 2011 |
URL: http://purl.umn.edu/114632 |
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Boucher, Stephen R.; Carter, Michael R.. |
This paper explores the productivity and income distribution effects of asymmetric information and risk preferences on the credit market. A model of contract design in the presence of moral hazard is developed in which competitive, risk neutral lenders offer contracts to risk averse agents who hold the option to invest capital and labor time in an entrepreneurial activity. The model gives rise to the potential for quantity rationing and an additional form of non-price rationing called risk rationing. Both quantity and risk rationed agents would seek credit and carry out the entrepreneurial activity in a first best, or symmetric information world. When information is asymmetric, the menu of available loan contracts shrinks. In equilibrium, neither type of... |
Tipo: Working or Discussion Paper |
Palavras-chave: Risk and Uncertainty. |
Ano: 2001 |
URL: http://purl.umn.edu/12675 |
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Registros recuperados: 1.657 | |
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