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Risk Balancing Using Farm Level Data: An Econometric Analysis

Author

Listed:
  • Yan, Yan
  • Katchova, Ani L.
  • Barry, Peter J.

Abstract

In the paper, an econometric model is proposed to test the risk balancing hypothesis using farm level data. For the purpose, a constraint on expected utility maximization with respect to farm financial structure is given. Cluster method is applied to pick out the farms on the efficient frontier under expected utility maximization given risk attitude and actual interest rate. Regression results are given and compared to previous findings. Farm characteristics associated with the risk behaviors of farms with optimal utility are identified and compared with other farms.

Suggested Citation

  • Yan, Yan & Katchova, Ani L. & Barry, Peter J., 2004. "Risk Balancing Using Farm Level Data: An Econometric Analysis," 2004 Annual meeting, August 1-4, Denver, CO 20142, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea04:20142
    DOI: 10.22004/ag.econ.20142
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    Cited by:

    1. Harris, James Michael & Blank, Steven C. & Erickson, Kenneth W. & Hallahan, Charles B., 2010. "Off-farm Income and Investments in Farm Assets: A Double Hurdle Approach," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61531, Agricultural and Applied Economics Association.
    2. Harris, James Michael & Dillard, John & Erickson, Kenneth W. & Hallahan, Charles B., 2009. "Changes in Debt Patterns and Financial Structure of Farm Businesses: A Double Hurdle Approach," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49402, Agricultural and Applied Economics Association.

    More about this item

    Keywords

    Risk and Uncertainty;

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