Data/hora: 11/06/2024 00:45:18

Provedor de dados: | 31
País: | United States
Título: | Specification and estimation of heterogeneous risk preference
Autores: | Guan,   Zhengfei; Wu,   Feng.
Data: | 2009-07-01
Ano: | 2009
Palavras-chave: | Risk Preference; Heterogeneity; Production Risk; Price Risk; Demographics; Subsidy; GMM; Agricultural Finance; Crop Production/Industries; Production Economics; Risk and Uncertainty.
Resumo: | In this paper we specify and estimate producers’ risk preference using farm data. We allow heterogeneous risk preference across individuals and propose a specification to model the heterogeneity. We base farmers’ decision making on a utility maximization framework and incorporate both market and production risk in farmers’ decision making. We do not assume any specific utility function or distribution of risk. The empirical application to farm level production data shows that risk preference does vary among individuals; demographic and institutional factors have significant effect on producers’ risk attitude.
Tipo: | Conference Paper or Presentation
Idioma: | Inglês
Identificador: | http://purl.umn.edu/51804

Relação:

International Association of Agricultural Economists&gt;2009 Conference, August 16-22, 2009, Beijing, China

Contributed Paper

771

Formato: | 17