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A Categorical Data Analysis on Risks in Agriculture

Author

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  • Uematsu, Hiroki
  • Mishra, Ashok K.

Abstract

This study compares farm operators’ risk perceptions and actual realization of risk attitudes revealed through off-farm labor, enterprise diversification, and use of contracts, crop insurance, and other types of insurance, using data from 2001 Agricultural Resource Management Survey (ARMS). Results from ordered logit model and multivariate probit models unexpectedly found that risk loving farmers are more likely to employ risk management strategies.

Suggested Citation

  • Uematsu, Hiroki & Mishra, Ashok K., 2011. "A Categorical Data Analysis on Risks in Agriculture," 2011 Annual Meeting, February 5-8, 2011, Corpus Christi, Texas 98839, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saea11:98839
    DOI: 10.22004/ag.econ.98839
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    Cited by:

    1. Sulewski, Piotr & Kłoczko-Gajewska, Anna, 2014. "Farmers’ risk perception, risk aversion and strategies to cope with production risk: an empirical study from Poland," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 116(3), pages 1-8, December.
    2. Hedge, Kendra M. & Yeager, Elizabeth A., 2014. "Producer Perceptions of Risk and Time," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170299, Agricultural and Applied Economics Association.

    More about this item

    Keywords

    Agribusiness; Crop Production/Industries; Labor and Human Capital; Marketing; Production Economics; Risk and Uncertainty;
    All these keywords.

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