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Gender and Experimental Measurement of Producers Risk Attitude Towards Output Market Price and its Effects on Economic Performance

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  • Ndoye Niane, Aifa Fatimata
  • Burger, Kees

Abstract

Agricultural production is typically a risky business. Farm households have to tackle several risks. So, farm households’ risk attitude is an important issue connected with decision making and greatly affects their economic performance. Particularly in Senegal, for horticultural households, output market price is one of the foremost risks. Moreover, within the household, husband and wives may behave differently towards risk. This research provides theoretical and empirical evidence of measures and effects of risk attitude on economic performance and on choice of inputs across gender. More precisely, based on an experimental game implemented in of Senegal, this chapter investigates the gender dimension of risk attitude and the causal relationship between risk attitude and allocative inefficiency of choice of inputs. The results show that on average men and women producers display absolute risk aversion towards output market price, and that women are as risk averse as men. As expected, and in line with the theoretical model, the empirical evidence shows that allocative inefficiency in the use of inputs increases with risk aversion. We identify recommendations for policy decision makers in terms of strategies which may help to dampen men and women producers’ risk aversion towards output market price and repercussions for efficiency.

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Bibliographic Info

Paper provided by International Association of Agricultural Economists in its series 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil with number 126928.

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Date of creation: 2012
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Handle: RePEc:ags:iaae12:126928

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Keywords: risk attitude; output market price; allocative inefficiency; inputs; horticultural household; gender; Agricultural and Food Policy; Farm Management;

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  1. Dohmen, Thomas J & Falk, Armin & Huffman, David & Schupp, Jürgen & Sunde, Uwe & Wagner, Gert Georg, 2006. "Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey," CEPR Discussion Papers 5517, C.E.P.R. Discussion Papers.
  2. Carmen Diana Deere & Cheryl Doss, 2006. "The Gender Asset Gap: What Do We Know And Why Does It Matter?," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 1-50.
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  10. Simtowe, Franklin, 2006. "Can Risk-aversion towards fertilizer explain part of the non-adoption puzzle for hybrid maize? Empirical evidence from Malawi," MPRA Paper 1241, University Library of Munich, Germany, revised 20 Dec 2006.
  11. Anjini Kochar, 1999. "Smoothing Consumption by Smoothing Income: Hours-of-Work Responses to Idiosyncratic Agricultural Shocks in Rural India," The Review of Economics and Statistics, MIT Press, vol. 81(1), pages 50-61, February.
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  14. Lex Borghans & Bart H.H. Golsteyn & James J. Heckman & Huub Meijers, 2009. "Gender Differences in Risk Aversion and Ambiguity," Working Papers 200903, Geary Institute, University College Dublin.
  15. Jeanne Koopman, 2009. "Globalization, Gender, and Poverty in the Senegal River Valley," Feminist Economics, Taylor & Francis Journals, vol. 15(3), pages 253-285.
  16. van den Berg, Marrit & Fort, Ricardo & Burger, Kees, 2009. "Natural Hazards And Risk Aversion: Experimental Evidence From Latin America," 2009 Conference, August 16-22, 2009, Beijing, China 51394, International Association of Agricultural Economists.
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