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Which Benefits Would Make Farmers Happier, and Which Would They Choose?

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Listed:
  • Neel Ocean
  • Peter Howley

Abstract

We presented six novel farming vignettes to U.K. farmers that describe trade-offs between pecuniary and nonpecuniary benefits. What farmers would choose corresponds with what they think would make them happier, which supports the use of subjective well-being as a proxy for decision utility in agricultural research. Where a disparity between choice and well-being exists, farmers seem willing to trade happiness for pecuniary benefits. Our results also suggest that farmers often trade pecuniary gains for nonpecuniary benefits. The utility derived from nonpecuniary benefits may help explain farmer behaviors, such as unsubsidized environmental improvements and reluctance to adopt efficiency-enhancing technologies.

Suggested Citation

  • Neel Ocean & Peter Howley, 2023. "Which Benefits Would Make Farmers Happier, and Which Would They Choose?," Land Economics, University of Wisconsin Press, vol. 99(3), pages 458-476.
    • Handle: RePEc:uwp:landec:v:99:y:2023:i:3:p:458-476
    Note: DOI: https://doi.org/10.3368/le.99.3.112321-0139R
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    More about this item

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets

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