Sabiia Seb
PortuguêsEspañolEnglish
Embrapa
        Busca avançada

Botão Atualizar


Botão Atualizar

Registro completo
Provedor de dados:  AgEcon
País:  United States
Título:  Accounting for Heterogeneity in Hedging Behavior: Comparing & Evaluating Grouping Methods
Autores:  Pennings, Joost M.E.
Garcia, Philip
Irwin, Scott H.
Data:  2011-08-02
Ano:  2011
Palavras-chave:  Economic behavior
Heterogeneity
Hedging
Methods
Risk and Uncertainty
A10
B40
C1
D0
G0
L2
Q13
Resumo:  Heterogeneity, i.e., the notion that individuals respond differently to economic stimuli, can have profound consequences for the interpretation of behavior and the formulation of agricultural policy. This paper compares and evaluates three grouping techniques that can be used to account for heterogeneity in financial behavior. Two are well established: company-type grouping and cluster analysis. A third, the generalized mixture regression model, has recently been developed and is worth considering as market participants are grouped such that their response to the determinants of economic behavior is similar. We evaluate the grouping methods in a hedging framework by assessing their ability to reflect relationships consistent with theory. The empirical findings show that the economic relationships are more consistent with theory within the groups identified by the mixture model, and suggest that researchers interested in identifying segments of the population in which participants behave in a similar manner may consider using of mixture model in the presence of heterogeneity in financial behavior.
Tipo:  Conference Paper or Presentation
Idioma:  Inglês
Identificador:  http://purl.umn.edu/114787
Relação:  European Association of Agricultural Economists>2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland
Formato:  13
Fechar
 

Empresa Brasileira de Pesquisa Agropecuária - Embrapa
Todos os direitos reservados, conforme Lei n° 9.610
Política de Privacidade
Área restrita

Embrapa
Parque Estação Biológica - PqEB s/n°
Brasília, DF - Brasil - CEP 70770-901
Fone: (61) 3448-4433 - Fax: (61) 3448-4890 / 3448-4891 SAC: https://www.embrapa.br/fale-conosco

Valid HTML 4.01 Transitional