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| Dorfman, Jeffrey H.; Karali, Berna. |
| 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 four years on three crops we examine the role of habit, demographics, farm characteristics, and information sources on the hedging decisions made by 106 different farmers. We find that the role of habit varies widely. Information sources are shown to have significant and large effects on the chosen hedge ratios. The farmer's education level, attitude toward technology adoption, farm profitability, and the ratio of acres owned to acres farmed also play important roles in hedging decisions. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Bayesian econometrics; Hedging decisions; Habit formation; Information sources; Agricultural Finance. |
| Ano: 2008 |
URL: http://purl.umn.edu/37596 |
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| Rejesus, Roderick M.; Knight, Thomas O.; Jaramillo, Mauricio; Coble, Keith H.; Patrick, George F.; Baquet, Alan E.. |
| This article examines farmers’ preferences for various risk management information sources. Our results suggest that information from risk management experts, in-depth materials studied on their own, and popular press outlets tend to be preferred and are ranked highly by producers. Using a regression model to investigate farmer/farm attributes that affect preference for a particular risk management information source, we find that younger farmers with college education, higher leverage, assets greater than $1 million, risk-loving attitudes, and who have used professional services (marketing consultants) tend to prefer information from risk management experts, the Internet, and marketing clubs/other producers. On the other hand, producers who prefer... |
| Tipo: Journal Article |
Palavras-chave: Crop insurance; Extension; Information sources; Outreach; Risk management; Risk and Uncertainty. |
| Ano: 2008 |
URL: http://purl.umn.edu/44742 |
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