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| 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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