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Registros recuperados: 122
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FARMERS’ RISK PERCEPTION AND RISK MANAGEMENT PRACTICES IN INTERNATIONAL COMPARISON AgEcon
Palinkas, Peter; Szekely, Csaba.
The local, regional and global economic and natural phenomena of previous decades collectively emphasize the growing importance of risk factors affecting agricultural production both directly and indirectly. Agricultural producers should not restrict their risk management strategies to offset and relieve the problems caused by climatic and natural phenomena, but the knowledge of up-to-date professional, market, and agricultural policy developments is more and more an indispensable condition of successful farming. Besides what mentioned above, it is at least equally important to answer the question of how farmers perceive the importance of risk factors surrounding their activities, as it strongly influences the shaping of their risk management strategies....
Tipo: Journal Article Palavras-chave: Risk perception; Risk management; International comparison; Farm Management; Risk and Uncertainty.
Ano: 2008 URL: http://purl.umn.edu/47554
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BIOTECHNOLOGY IN AGRICULTURE: IMPLICATIONS FOR FARM-LEVEL RISK MANAGEMENT AgEcon
Makki, Shiva S.; Somwaru, Agapi; Harwood, Joy L..
This study examines the risks associated with adoption of biotech crops and discusses their implications for risk management at the farm level. We develop an analytical risk evaluation matrix framework to illustrate changes in production and marketing risks of biotech and non-biotech crops. Price uncertainty generated by consumer concerns is the major risk facing biotech farmers, while cross-pollination with biotech crops and preservation of non-biotech status are major concerns for non-biotech farmers. Improved market infrastructure to handle biotech products and modification of the current risk management tools to accommodate new risks are essential in reducing the farm-level risks.
Tipo: Journal Article Palavras-chave: Biotechnology; Genetically modified organisms; Marketing risks; Production risks; Risk evaluation matrix; Risk management; Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty.
Ano: 2001 URL: http://purl.umn.edu/14683
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Creole Coffee AgEcon
Kennedy, P. Lynn; Roule, Elizabeth D..
Creolé Coffee had just started to achieve regional and national success. However,recent volatility in the world coffee market resulted not only in price instabilities, but also created difficulty in procuring the high-quality product customers had grown to expect from Creolé. In examining this situation, Jim Brewer determined that the company must adapt their relationships with producers to ensure the availability of the quality and quantity of coffee needed to produce the premium blends consumers now associate with Creolé. In turn this would allow the company to provide consumers with a high quality product at a stable price.
Tipo: Journal Article Palavras-chave: Vertical coordination; Strategic alliances; Risk management; International trade; Commodity procurement.; Agribusiness; International Relations/Trade.
Ano: 2004 URL: http://purl.umn.edu/8119
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Mitigating the impact of El Nino-related drought on smallholder farmers in Central Sulawesi, Indonesia: An interdisciplinary modelling approach combining linear programming with stochastic simulation AgEcon
Keil, Alwin; Teufel, Nils; Gunawan, Dodo; Leemhuis, Constanze.
Crop production in the tropics is subject to considerable climate variability caused by the El Niño-Southern Oscillation (ENSO) phenomenon. In Southeast Asia, El Niño causes comparatively dry conditions leading to substantial declines of crop yields with severe consequences for the welfare of local farm households. Using a modelling approach that combines regression analysis with linear programming and stochastic simulation, and integrates climatic and hydrologic modelling results, the objective of this paper is to assess the impact of El Niño on agricultural incomes of smallholder farmers in Central Sulawesi, Indonesia, and to identify suitable crop management strategies to mitigate the income depressions. The results contribute to the formulation of...
Tipo: Conference Paper or Presentation Palavras-chave: ENSO; Risk management; Linear programming; Stochastic simulation; Indonesia; Farm Management.
Ano: 2007 URL: http://purl.umn.edu/7942
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Risk management, vulnerability, and risk perception of organic farmers in Spain AgEcon
Medina, Felipe; Iglesias, Ana; Mateos, Carlos.
This study analyses the specific risks that organic farmers must manage. Due to the special features of management of their productive system, and due to the specific characteristics of their cultivations, they must face different risks than conventional farmers. Even if the Spanish farmers rely on the insurance system to manage their risks, today organic farmers do not have specific insurance products to manage them. The methodology and results presented in this study include the following: First, the primary information is compiled after the elaboration of more than 500 questionnaires to organic farmers of diverse Spanish regions. Second, the risk analysis is carried out by evaluating statistical, probabilistic, and stochastic properties of the...
Tipo: Conference Paper or Presentation Palavras-chave: Risk management; Organic farming; Vulnerability; Risk perception; Stochastic simulation and agricultural insurance.; Risk and Uncertainty.
Ano: 2007 URL: http://purl.umn.edu/9274
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Risk Governance in Bulgarian Dairy Farming AgEcon
Bachev, Hrabrin Ianouchev; Nanseki, T..
This paper identifies and assesses the efficiency of major modes for risk governance in Bulgarian dairy farming. Firstly, New Institutional Economics is incorporated and framework for analyzing governance of natural, market, private, and social (institutional) risks presented. Next, major types of risks faced by the dairy farms are specified and dominant market, private, public and hybrid modes of risk governance assessed. Finally, principal forms of risks caused by the dairy farms are identified, and efficiency of governing structure assessed. The development of Bulgarian dairy farming has been associated with quite specific risk structures facing by and causing from this sector. The huge market and institutional instability and uncertainty, and the high...
Tipo: Conference Paper or Presentation Palavras-chave: Risk management; Dairy; Bulgaria; Livestock Production/Industries; Risk and Uncertainty.
Ano: 2008 URL: http://purl.umn.edu/44136
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Discussion: What Have We Learned from the New Suite of Risk Management Programs of the Food, Conservation, and Energy Act of 2008? AgEcon
Lubben, Bradley D.; Novak, James L..
New revenue-based support programs in the 2008 Farm Bill represent a fundamental shift in farm programs and risk management decision-making. However, complexity, uncertainty, economics, and, arguably, an incomplete analysis of the new Average Crop Revenue Election (ACRE) program all contributed to low enrollment in the new program in 2009. An effective analysis of ACRE should consider farm programs as part of an integrated risk management portfolio, including crop insurance, marketing, and other risk management tools as opposed to a separate lottery program. Improving this integration could be one of the most significant consequences of the 2008 Farm Bill.
Tipo: Journal Article Palavras-chave: Farm bill; Commodity programs; Risk management; Agribusiness; Agricultural and Food Policy; Agricultural Finance; Farm Management; Land Economics/Use; Political Economy; Public Economics; Risk and Uncertainty; Q18.
Ano: 2010 URL: http://purl.umn.edu/92591
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Hedging in Presence of Market Access Risk AgEcon
Tonsor, Glynn T..
Existing literature predominantly assumes perfect knowledge of production methods when deriving optimal futures position hedging rules. This paper relaxes this assumption and recognizes situations where producers interested in hedging may not know the exact input mix that will subsequently be used in their physical operations. This uncertainty is built into a conceptual model subsequently used to demonstrate the impacts of this risk on optimal hedging behavior.
Tipo: Conference Paper or Presentation Palavras-chave: Distiller grains; Hedging; Market access risk; Risk management; Agricultural Finance.
Ano: 2008 URL: http://purl.umn.edu/37621
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Crop biodiversity repercussions of subsidized organic farming in Greece AgEcon
Nastis, Stefanos A.; Michailidis, Anastasios; Mattas, Konstadinos.
This paper analyzes the impact of CAP financial assistance on crop biodiversity under uncertainty. A stochastic production function is employed and estimated to assess whether risk-averse farmers hedge risk by diversifying their portfolio of crops, thus increasing crop biodiversity. The model is applied to farm-level data of organic crop farms in Greece. Organic farming financial assistance poses a double-edged sword: even though it is considered agrobiodiversity enhancing as a cultivation method, subsidizing it can become agrobiodiversity reducing, since farmers may select to cultivate only the subsidized crops. The study shows that risk aversion leads to crop biodiversity conservation. However, providing CAP financial assistance on certain crops appears...
Tipo: Conference Paper or Presentation Palavras-chave: Crop biodiversity; Agroecosystem; Risk management; Agricultural assistance; Crop Production/Industries; Farm Management; Resource /Energy Economics and Policy; Q12; Q18; D80; Q24; Q57.
Ano: 2011 URL: http://purl.umn.edu/114628
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LINKAGES BETWEEN CROP INSURANCE AND PRE-HARVEST HEDGING AgEcon
Dhuyvetter, Kevin C.; Kastens, Terry L..
The impact pre-harvest hedging and crop insurance strategies have on expected revenue and associated risk as well as how producers' risk attitudes affect optimal strategies was analyzed for Kansas wheat farms. No insurance, Catastrophic (CAT), Actual Production History (APH), and Crop Revenue Coverage (CRC) were considered. Average revenue was similar across alternatives, but APH and CRC resulted in the least income variability. Risk reduction effects of hedging were small and the advantage of CRC over APH decreases as hedging increases. This historical study provides useful information; however, if future market conditions differ significantly from the past, optimal strategies may change.
Tipo: Journal Article Palavras-chave: Crop insurance; Hedging; Revenue insurance; Risk management; Marketing; Risk and Uncertainty.
Ano: 1999 URL: http://purl.umn.edu/15133
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Cooperative Risk Management: Rationale and Effectiveness AgEcon
Manfredo, Mark R.; Richards, Timothy J..
Agricultural cooperatives tend to be riskier than investor-oriented firms, both in a business and financial sense. However, cooperative managers are often reluctant to actively manage risk. Although the “risk management irrelevance proposition” suggests that cooperative managers should be unable to add shareholder value through risk management activities, this study argues that there are several reasons why this is not likely to be the case for cooperatives. Several empirical examples are provided through numerical simulation of pro-forma financial statements from representative agricultural cooperatives. Using mean variance, expected utility and value-at-risk metrics, the results of these simulations show that various risk management strategies can...
Tipo: Working or Discussion Paper Palavras-chave: Cooperative; Expected utility; Futures; Option; Risk management; Value at risk.; Risk and Uncertainty.
Ano: 2003 URL: http://purl.umn.edu/28540
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Risk Management Instruments for Water Reallocations AgEcon
Hart, Chad E..
Federal and state governments are searching for programs and/or policies to deal with the risks linked with uncertainty in water supplies and demands. Within the United States, competition among agricultural, urban, and environmental concerns for water is increasing. Drought conditions and water use restrictions have, at times, limited water supplies for these varied uses. The federal government stands in a unique position as both a major supplier and demander of water. As such, the federal government has put forward several programs for water conservation, information, and usage. One area in which the federal government has not made significant progress is the issue of risk management and compensation for water reallocations. When natural forces or...
Tipo: Working or Discussion Paper Palavras-chave: Government policy; Reallocation; Risk management; Water rights; Resource /Energy Economics and Policy; Risk and Uncertainty.
Ano: 2005 URL: http://purl.umn.edu/18298
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NASYP: Online expert tool on the control of major-accident hazards involving dangerous substances AgEcon
Kahuda, Daniel; Vach, Marek; Cerba, Otakar; Krivanek, Zbynek; Jezek, Jan; Charvat, Karel; Vohnout, Premysl; Dvorak, V..
NASYP is an online Geoportal tool being developed in cooperation with state and regional authorities to improve insufficient practices based on implementation of Directive nr. 2003/105/ES on the control of major-accident hazards involving dangerous substances. The tool is applicable for managing the permits, reporting and regular monitoring issues. Furthermore, it’s applicable for a risk assessment and a rapid management of disasters in the initial phase. There’re simple modeling tools included to simulate early stages of the contamination caused by disasters occurred to be used for decision making and effective use of emergency services. In this manner, there’re low atmospheric and surface water pollutions taken into account. For the study area, Liberec...
Tipo: Journal Article Palavras-chave: Spatial data; Geoportal; Risk management; Modelling; Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods; Risk and Uncertainty; GA; IN.
Ano: 2011 URL: http://purl.umn.edu/116384
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Hog Producers' Risk Management Attitudes and Desire for Additional Risk Management Education AgEcon
Patrick, George F.; Peiter, Amy J.; Knight, Thomas O.; Coble, Keith H.; Baquet, Alan E..
Hog producers in Indiana and Nebraska were surveyed about sources of risk, effectiveness of risk management strategies, and prior participation in and desire for additional risk management education. Ownership of hogs by the producer, size of the operation, and age did have significant effects on ratings of both sources of risk and effectiveness of risk management strategies. Probit analysis found age, prior attendance, knowledge and prior use of the tool, level of integration, and concern about price and performance risk have significant effects on interest in further education about production contracts, futures and options, packer marketing contracts, and financial management.
Tipo: Journal Article Palavras-chave: Financial management; Futures and options; Packer marketing contracts; Production contracts; Risk attitudes; Risk management; D81; D83; Q12; Q16.
Ano: 2007 URL: http://purl.umn.edu/37110
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Insurance preferences of smallholders : results from an adaptive conjoint analysis in Northern Vietnam AgEcon
Fischer, Isabel; Buchenrieder, Gertrud.
Livestock plays a pivotal role for smallholder production systems in mountainous Northern Vietnam. Poor rural farm households are vulnerable and their livelihood systems are often so fragile and finely-balanced that a small misfortune can destabilize the households for many years. Economic risks, especially loss of livestock, are one of the major reasons for slipping into poverty. Normally, insurance systems could step in here. In developing countries however, insurance markets are usually underdeveloped. Empirical research reveals that raising livestock and selling it in case of a livelihood emergency is a particularly popular risk management strategy. Based on the results of a computer-based Adaptive Conjoint Analysis (ACA) with 155 responding households...
Tipo: Working or Discussion Paper Palavras-chave: Risk management; Livestock insurance; Adaptive conjoint analysis (ACA); Vietnam; Risk and Uncertainty.
Ano: 2008 URL: http://purl.umn.edu/92830
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OFFSHORE COMMODITY AND CURRENCY HEDGING STRATEGY WITH HEDGING COSTS AgEcon
Jin, Hyun Joung; Koo, Won W..
This study explores the role of hedging costs in offshore hedging to minimize the risks associated with fluctuations in commodity export prices and exchange rates in international grain trade. The study focuses on three areas: (1) the effects of hedging costs in both commodity and currency futures hedging, (2) the relationship between hedging cost and trade volume of a grain, and (3) a prescriptive hedging strategy for Japanese wheat importers in the commodity and currency futures markets. A demand system for futures hedging is presented and the effect of hedging cost on the model is analyzed. The model is applied to a representative wheat importer in Japan. Demand for futures is estimated under different levels of hedging costs in both commodity and...
Tipo: Working or Discussion Paper Palavras-chave: International grain trade; Risk management; Offshore futures hedging; Hedging cost; Marketing.
Ano: 2002 URL: http://purl.umn.edu/23592
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Diversification in land and labor allocation in response to shocks among small-scale farmers in central Vietnam AgEcon
Duc, Tung Phung; Waibel, Hermann.
The paper analyzes the relationship between the allocation of labor and land of the households, the number of crops grown and the number of income sources of the households with different types of shocks and risks. It uses the data from the first phase of the household survey in three provinces of Central of Vietnam, conducted within the scope of the DFG research project “Impact of shocks on the vulnerability to poverty: consequences for development of emerging Southeast Asian economies”. The results suggest that the households diversify their portfolio (labor and land) into different income generating activities in order to cope with shocks. Among the different types of shocks and risks, agriculture and economic shocks and risks are the main factors to...
Tipo: Conference Paper or Presentation Palavras-chave: Diversification; Risk management; Risk coping strategies; Vietnam; Farm Management; Labor and Human Capital.
Ano: 2009 URL: http://purl.umn.edu/53255
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Characteristics and Risk Management Needs of Limited-Resource and Socially Disadvantaged Farmers AgEcon
Dismukes, Robert; Harwood, Joy L.; Bentley, Susan E..
Small U.S. farms and those run by socially disadvantaged minority operators tend not to purchase insurance or to participate in insurance-type programs operated by USDA. This report traces the lack of use of such risk management measures to several characteristics of such farmers, who include females, blacks, American Indians, Asian/Pacific Islanders, and operators of Spanish origin. These farmers tend, more than the typical U.S. farm, to raise livestock rather than crops, and there are no government-sponsored insurance-type programs for livestock.
Tipo: Report Palavras-chave: Risk management; Crop insurance; Limited-resource farmers; Limited-opportunity farmers; Small farms; Socially disadvantaged farmers; Farm Management; Risk and Uncertainty.
Ano: 1997 URL: http://purl.umn.edu/33622
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Asymmetric Information in the Market for Yield and Revenue Insurance Products AgEcon
Makki, Shiva S.; Somwaru, Agapi.
This report analyzes farmers' choice of crop insurance contracts and tests for the presence of asymmetric information in the market for multiple yield and revenue insurance products. Farmers' risk characteristics, their level of income, and the cost of insurance significantly affect their choices of yield and revenue insurance products as well as their selections of alternative coverage levels. Empirical analysis indicates that, in the presence of asymmetric information, high-risk farmers are more likely to select revenue insurance contracts and higher coverage levels. The results also indicate that premium rates do not accurately reflect the likelihood of losses, implying asymmetrical information in the crop insurance market.
Tipo: Report Palavras-chave: Asymmetric information; Adverse selection; Crop insurance; Revenue insurance; Risk management; Risk and Uncertainty.
Ano: 2001 URL: http://purl.umn.edu/33587
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ANALYSIS OF THE RISK MANAGEMENT PROPERTIES OF GRAZING CONTRACTS VERSUS FUTURES AND OPTION CONTRACTS AgEcon
Harrison, R. Wes; Bobst, Barry W.; Benson, Fred J.; Meyer, Lee.
A stochastic budget simulator and generalized stochastic dominance are used to compare the risk management properties of grazing contracts to futures and option contracts. The results show that the risks of backgrounding feeder cattle are reduced significantly for pasture owners in a grazing contract. However, the risks of the cattle owner in a grazing contract are not significantly reduced. The results show that generally risk adverse pasture owners prefer grazing contracts to integrated production when traditional hedging is used to manage price risks. In addition, grazing contracts compare favorably with put option contracts for some pasture owners.
Tipo: Journal Article Palavras-chave: Backgrounding; Futures contracts; Grazing contracts; Options contracts; Risk management; Risk and Uncertainty.
Ano: 1996 URL: http://purl.umn.edu/15117
Registros recuperados: 122
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