Data/hora: 10/06/2024 13:58:10

Provedor de dados: | Research in Agricultural & Applied Economics (AgEcon Searh)
País: | United States
Título: | Do Farmers Hedge Optimally or by Habit? A Bayesian Partial-Adjustment Model of Farmer Hedging
Autores: | Dorfman,   Jeffrey H.; Karali,   Berna.
Data: | 2011-02-21
Ano: | 2010
Palavras-chave: | Bayesian econometrics; Habit formation; Hedging decisions; Information sources; Agribusiness; Agricultural Finance; Farm Management; Financial Economics; Labor and Human Capital; Production Economics; Productivity Analysis; Research Methods/ Statistical Methods; C11; Q12; Q14.
Resumo: | Hedging is one of the most important risk management decisions that farmers make and has a potentially large role in the level of profit eventually earned from farming. Using panel data from a survey of Georgia farmers that recorded their hedging decisions for 4 years on four crops, we examine the role of habit, demographics, farm characteristics, and information sources on the hedging decisions made by 57 different farmers. We find that the role of habit varies widely and that estimation of a single habit effect suffers from aggregation bias. Thus, modeling farmer-level heterogeneity in the examination of habit and hedging is crucial.
Tipo: | Journal Article
Idioma: | Inglês
Identificador: | http://purl.umn.edu/100519
Relação: | Journal of Agricultural and Applied Economics&gt;Volume 42, Number 04, November 2010
Formato: | 13