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| Registros recuperados: 41 | |
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| Toledo T,Roger; Engler P,Alejandra. |
| Decisions are strongly influenced by risk and risk preferences of decision makers; however, in Chile there are few studies in the agricultural sector focused on this topic. The present paper analyzes the risk preferences of small producers of raspberries (Rubus idaeus L.) and the production function associated with their production system in the Bio-Bio Region of Chile. Under a mean-variance approach, the estimation procedure uses a flexible utility function to incorporate a variety of risk preference alternatives. Three different estimation procedures were used: Least Squares Estimation, Seemingly Unrelated Regression and Full Information Maximum Likelihood, which revealed the same conclusions. Results showed that small farmers are risk averse (γ... |
| Tipo: Journal article |
Palavras-chave: Risk aversion; Mean-variance utility function; Production function. |
| Ano: 2008 |
URL: http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-58392008000200007 |
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| Nganje, William E.; Tiapo, Napoleon M.; Wilson, William W.. |
| Managing quality risks, especially grain quality, has been a challenge facing farmers, grain merchandisers, and policymakers for many years. With the advent of genetically modified organisms (GMOs), food safety, and identity preservation, this is even more challenging today. In this paper, an equilibrium crop insurance model was developed and used to analyze the impact of quality risks on equilibrium coverage levels and risk premiums that suppliers of insurance and barley producers would be willing to provide when yield and revenue insurance instruments explicitly incorporate quality risks. The asking price concept and sensitivity analysis were used to evaluate farmers' behavior after they purchase crop quality insurance and to provide guidance and... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Crop insurance; Equilibrium coverage levels; Fusarium Head Blight; Premium rates; Quality risks; Risk aversion; Crop Production/Industries. |
| Ano: 2002 |
URL: http://purl.umn.edu/23641 |
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| Isik, Murat. |
| This paper develops a framework to link the expected utility analysis to real options models in order to capture the joint effects of risk aversion and irreversibility associated with real investments. It aims at modifying the theory of investment under uncertainty by incorporating decision makers' risk preferences and allows explicitly analyzing the impacts of risk aversion, uncertainty and irreversibility on decisions such as investment and resource allocations. It addresses the shortcomings of the commonly used expected utility and investment under uncertainty models be generalizing the theory of irreversible investment under uncertainty by allowing for risk-averse investors. We found that uncertainty, irreversibility and risk aversion are important... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Expected utility; Investment under uncertainty; Irreversibility; Real options; Risk aversion; Risk and Uncertainty; D81; G1. |
| Ano: 2004 |
URL: http://purl.umn.edu/20027 |
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| Severini, Simone; Cortignani, Raffaele. |
| Farmers face increasing income uncertainty and the debate is growing on the role of insurance schemes and of public support in this field. This paper applies a PMP modelling approach that takes into explicit consideration risk aversion behaviour to test its applicability to evaluating the potential impact of insurance schemes. This is done by introducing a revenue insurance scheme into a model developed on a small group of crop farms in Italy. The paper represents a preliminary assessment of the soundness of the proposed approach. It identifies some limitations that should be overcome to improve the proposed approach. Despite these limitations, it seems a useful tool to investigate the impact of insurance schemes and policy relevant parameters such as... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Insurance schemes; PMP; Farmers’ behaviour; Risk aversion; Agricultural and Food Policy; Q12; C61; Q18. |
| Ano: 2011 |
URL: http://purl.umn.edu/99431 |
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| Jordaan, Henry; Grove, Bennie. |
| Risk aversion is the primary reason for farmers to use forward pricing methods to hedge against price risk. Previous international research on farmers’ forward pricing behaviour found inconsistent results with respect to the relationship between risk aversion and the use of forward pricing methods. Ordinary Least Squares (OLS) regression is used in this research to investigate the relationship between the proportion of maize Vaalharts maize producers are willing to forward price and risk aversion. The quantity decision is modelled conditional on the adoption decision to ensure that the modelling procedure does not force the same variables to influence the two decisions in the same way. Regression results showed that more risk averse farmers are forward... |
| Tipo: Journal Article |
Palavras-chave: Forward pricing; Risk aversion; Farm characteristics; Linear regression; Crop Production/Industries; Marketing; Risk and Uncertainty. |
| Ano: 2008 |
URL: http://purl.umn.edu/5970 |
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| Lai, Jing-Yi; Myers, Robert J.; Hanson, Steven D.. |
| Most previous research on post-harvest grain storage by farmers has assumed risk-neutral behavior and/or made restrictive assumptions about underlying price probability distributions. In this study, we solve the optimal on-farm storage problem for a risk-averse farmer under more general assumptions about underlying price distributions. The resulting model is applied to Michigan corn farmers and findings show, contrary to the "sell all or nothing" risk-neutral rule, risk-averse farmers will spread sales out over the storage season. As farmers become more risk averse, the optimal strategy is to sell more grain at harvest and spread sales over the storage season, even though this practice reduces expected return. This result is more consistent with observed... |
| Tipo: Journal Article |
Palavras-chave: Grain storage; Risk aversion; Stochastic dynamic programming; Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/31063 |
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| Zgajnar, Jaka; Kavcic, Stane. |
| The paper presents multiple criteria approach to deal with risk in farmer’s decisions. Decision making process is organised in a framework of spreadsheet tool. It is supported by deterministic and stochastic mathematical programming techniques applying optimisation concept. Decision making process is conceptually divided into seven autonomous modules that are mutually linked up. Beside the common maximisation of expected income through linear programming it enables also reconstruction of current production practice. Income risk modelling is based on portfolio theory resting on expected value, variance (E,V) paradigm. Modules dealing with risk are therefore supported with quadratic and constrained quadratic programming. Non-parametric approach is utilised... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Goal programming; Risk modelling; Risk aversion; Production planning; Risk and Uncertainty. |
| Ano: 2011 |
URL: http://purl.umn.edu/118033 |
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| Registros recuperados: 41 | |
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