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| Culas, Richard J.; Mahendrarajah, Mahen. |
| Farm planning generally focuses on optimal diversification with respect to risk and uncertainties, where the risk-management strategies combine production, marketing, financial and environmental responses of the production of farm firm. In this study an empirical examination of farm diversification has been carried out from a sample of farms in Eastern Norway in which four measures of diversification (indices) were defined to incorporate the risk and uncertainties in relation to farm production (total) income. Using these four alternative measures of diversification and panel-data techniques, it has been shown that larger farms are more diversified, and when there is productive location and access to labour the farmers have a greater incentive to spread... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Farm diversification; Risk and uncertainty; Environmental management; Panel data; Agribusiness; C23; Q12; Q20. |
| Ano: 2005 |
URL: http://purl.umn.edu/24647 |
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| Lybbert, Travis J.; Galarza, Francisco B.; McPeak, John G.; Barrett, Christopher B.; Boucher, Stephen R.; Carter, Michael R.; Chantarat, Sommarat; Fadlaoui, Aziz; Mude, Andrew G.. |
| The effective design and implementation of interventions that reduce vulnerability and poverty require a solid understanding of underlying poverty dynamics and associated behavioral responses. Stochastic and dynamic benefit streams can make it difficult for the poor to learn the value of such interventions to them. We explore how dynamic field experiments can help (i) intended beneficiaries to learn and understand these complicated benefit streams, and (ii) researchers to better understand how the poor respond to risk when faced with nonlinear welfare dynamics. We discuss and analyze dynamic risk valuation experiments in Morocco, Peru, and Kenya. |
| Tipo: Journal Article |
Palavras-chave: Poverty; Risk and uncertainty; Dynamics; Experiments; Kenya; Morocco; Peru; International Development; Research Methods/ Statistical Methods; Risk and Uncertainty. |
| Ano: 2010 |
URL: http://purl.umn.edu/90791 |
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| Liu, Yucan; Shumway, C. Richard. |
| The curvature properties of the indirect utility function imply a set of refutable implications in the form of comparative static results and symmetric relations for the competitive firm operating under uncertainty. These hypotheses, first derived and empirically tested under output price uncertainty by Saha and Shumway (1998), are extended in this paper to the more general case of both price and quantity uncertainty and result in an important theoretical finding. Empirical tests using a panel of state-level observations fail to reject most refutable hypotheses under output price and output quantity risk, but symmetry conditions implied by a twice-continuously-differentiable indirect utility function are rejected. Two restrictive risk preference hypotheses... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Indirect utility function; Refutable implications; Risk and uncertainty; Risk and Uncertainty. |
| Ano: 2005 |
URL: http://purl.umn.edu/19331 |
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