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Increase in milk price volatility experienced by Flemish dairy farmers: A change in risk profile AgEcon
van Winsen, Frankwin; Wauters, Erwin; Lauwers, Ludwig H.; de Mey, Yann; Van Passel, Steven; Vancauteren, Mark.
This paper reports on the increased volatility in the milk price received by Flemish dairy farmers and its consequence on the risk profile of selected Flemish dairy farms. The volatility of the milk price has doubled since January 2007. It is suggested that this increasing volatility could have a significant impact on the risk profile of dairy farms. Indeed our results show that the risk profile is changing depending on the volatility and average price for milk. However this change is not very substantial compared to some other subsectors. Also we show that in our case study of selected farms that if the milk price volatility doubles an average milk price increase of about 12% compensates for the increased volatility on return on assets. Finally this paper...
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis; Livestock Production/Industries.
Ano: 2011 URL: http://purl.umn.edu/115758
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Input-output Concepts, Profits and Productivity Growth: An Application Using Flemish Farm Level Data AgEcon
de Mey, Yann; Vancauteren, Mark; Van Passel, Steven.
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management; Productivity Analysis.
Ano: 2011 URL: http://purl.umn.edu/114448
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Combining risk perception and risk attitude: A comprehensive individual risk behavior model AgEcon
van Winsen, Frankwin; Wauters, Erwin; Lauwers, Ludwig H.; de Mey, Yann; Van Passel, Steven; Vancauteren, Mark.
Although risk management in farming is a well-documented subject in scientific literature, this same literature is usually used only by other scientist and is not aiding individual farmers in their management. Risk perception and risk attitude are well described determinants of risk behaviour but rarely combined in an integrated approach for risk behaviour research. Furthermore in most literature risk attitude is taken as a given stable personality trait on which the optimal behaviour should be based. We argue that risk attitude can be manageable in order to derive optimal risk behaviour. Based on these findings we develop a comprehensive theoretical basic model on farmers risk behaviour. Furthermore a participatory approach involving the stakeholder, the...
Tipo: Conference Paper or Presentation Palavras-chave: Risk management; Risk perception; Risk attitude; Risk behaviour; Risk and Uncertainty.
Ano: 2011 URL: http://purl.umn.edu/115749
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From total farm to household risk: implication for risk management AgEcon
de Mey, Yann; Wauters, Erwin; van Winsen, Frankwin; Vancauteren, Mark; Van Passel, Steven; Lauwers, Ludwig H..
Modeling the farm level impact of risk management programs, policies and instruments is traditionally been done on a farm-level basis. Hence, farm simulation models typically use the behavioural assumption of profit or utility maximization is risk aversion taken into account. However, abundant – albeit indirect – evidence from different literature sources suggest that minimization of household risk – being the chance of falling below a certain threshold level of household cash flow – might be more realistic behavioural assumption. In this paper, we present concepts of operational, financial, total farm and household risk. Further, using a stochastic simulation model on two typical Belgian dairy farms, we illustrate possible farmers responses in the...
Tipo: Presentation Palavras-chave: Household risk; Typical dairy farms; Stochastic simulation; Household buffering capacity; Risk and Uncertainty.
Ano: 2012 URL: http://purl.umn.edu/122470
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