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Registros recuperados: 39 | |
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Lybbert, Travis J.; Just, David R.. |
Economists attribute many common behaviors to risk aversion and frequently focus on how wealth moderates risk preferences. This paper highlights a problem associated with empirical tests of the relationship between wealth and risk aversion that can arise when the probabilities individuals face are unobservable to researchers. The common remedy for unobservable probabilities involves the estimation of probabilities in a profit or production that includes farmer, farm and agro-climatic variables. Unfortunately, these variables are often correlated with wealth such that estimated probabilities are likely to leave statistical fingerprints on subsequently-estimated risk aversion coefficients and may thereby introduce spurious correlations between wealth and... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
Ano: 2006 |
URL: http://purl.umn.edu/21167 |
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Khantachavana, Sivalai V.; Just, David R.; Pushkarskaya, Helen N.. |
Entrepreneurship means making discrete changes in livelihood activities that involve substantial risks to income. While the rewards may be substantial, transactions costs may make decisions irreversible. This paper draws a comparison between entrepreneurship and technology adoption. Adopting a new production technology also involves substantial risks. The economics of technology adoption is a well developed literature with many accepted and testable models. Most prominent are the theories of learning by using and learning by doing. We review the technology adoption literature, drawing out lessons for entrepreneurship research. We then apply an entrepreneurship as technology adoption model to a unique dataset collected during the tobacco buyout. The... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Entrepreneurship; Technology adoption; Tobacco buyout; Agribusiness; Risk and Uncertainty. |
Ano: 2010 |
URL: http://purl.umn.edu/61296 |
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Registros recuperados: 39 | |
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