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The effects of EU agricultural policy changes on farmers' risk attitudes

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Author Info

  • Phoebe Koundouri
  • Marita Laukkanen
  • Sami Myyrä
  • Céline Nauges

Abstract

This analysis utilises a model of production under risk estimated on Finnish farm-level data to measure farmers' risk attitudes in a changing policy environment. We find evidence of heterogeneous risk preferences among farmers, as well as notable changes over time in farmers' degree of risk aversion. This result is due to the increase in the non-random part of farm income generated by the policy change after Finland's European Union accession. The analysis confirms the assertion that agricultural policies that are decoupled from production do affect input use and crop mix through their effect on farmers' risk attitudes. Oxford University Press and Foundation for the European Review of Agricultural Economics 2009; all rights reserved. For permissions, please email journals.permissions@oxfordjournals.org, Oxford University Press.

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Bibliographic Info

Article provided by Foundation for the European Review of Agricultural Economics in its journal European Review of Agricultural Economics.

Volume (Year): 36 (2009)
Issue (Month): 1 (March)
Pages: 53-77

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Handle: RePEc:oup:erevae:v:36:y:2009:i:1:p:53-77

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Cited by:
  1. Finger, Robert, 2012. "Nitrogen use and the effects of nitrogen taxation under consideration of production and price risks," Agricultural Systems, Elsevier, vol. 107(C), pages 13-20.
  2. Drichoutis, Andreas C. & Koundouri, Phoebe, 2012. "Estimating risk attitudes in conventional and artefactual lab experiments: The importance of the underlying assumptions," Economics Discussion Papers 2012-19, Kiel Institute for the World Economy.
  3. Andreas Drichoutis & Phoebe Koundouri, . "Estimating risk attitudes in conventional and artefactual lab experiments," DEOS Working Papers 1115, Athens University of Economics and Business.
  4. Laukkanen, Marita & Nauges, Céline, 2009. "Environmental and Production Cost Impact of No-Till: Estimates from Observed Behavior," TSE Working Papers 09-125, Toulouse School of Economics (TSE).
  5. Xavier Vollenweider & Salvatore Di Falco & Cathal O’Donoghue, 2011. "Risk preferences and voluntary agrienvironmental schemes: does risk aversion explain the uptake of the Rural Environment Protection Scheme?," Grantham Research Institute on Climate Change and the Environment Working Papers 48, Grantham Research Institute on Climate Change and the Environment.
  6. Nauges, Celine & O'Donnell, Christopher & Quiggin, John, 2010. "Uncertainty and Technical Efficiency in Finnish Agriculture: A State-contingent Approach," Risk and Sustainable Management Group Working Papers 151192, University of Queensland, School of Economics.
  7. Raja Chakir & Julien Hardelin, 2010. "Crop Insurance and Pesticides in French agriculture: an empirical analysis of multiple risks management," Working Papers 2010/04, INRA, Economie Publique.
  8. Robert Finger & Niklaus Lehmann, 2012. "The influence of direct payments on farmers’ hail insurance decisions," Agricultural Economics, International Association of Agricultural Economists, vol. 43(3), pages 343-354, 05.
  9. Chakir, Raja & Hardelin, Julien, 2011. "Hail Insurance and Pesticide use in French agriculture: an empirical analysis of multiple risks management," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114312, European Association of Agricultural Economists.
  10. Marita Laukkanen & Céline Nauges, 2012. "Evaluating greening farm policies: A structural model for assessing agri-environmental subsidies," Working Papers 40, Government Institute for Economic Research Finland (VATT).
  11. Moro, Daniele & Sckokai, Paolo, 2013. "The impact of decoupled payments on farm choices: Conceptual and methodological challenges," Food Policy, Elsevier, vol. 41(C), pages 28-38.

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