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Fresh Vegetable Growers' Risk Perception, Risk Preference and Choice of Marketing Contracts: A Choice Experiment

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  • Vassalos, Michael
  • Hu, Wuyang
  • Woods, Timothy A.
  • Schieffer, Jack
  • Dillon, Carl R.

Abstract

Growers’ preferences for a number of marketing contract attributes as well as the effect of growers’ risk perception and risk preferences on the choice of marketing contracts were examined with the use of a choice experiment. The main data source for the study is a mail survey administrated to 315 wholesale tomato growers. The findings validate the transaction cost hypothesis and indicate heterogeneity in preferences. Risk perception and risk preferences had limited impact on contract choice.

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Bibliographic Info

Paper provided by Southern Agricultural Economics Association in its series 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida with number 142506.

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Date of creation: 10 Jan 2013
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Handle: RePEc:ags:saea13:142506

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Related research

Keywords: Marketing Contracts; transaction costs; choice of contracts; choice experiment; Agribusiness; Farm Management; Marketing; Q12; Q13;

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  1. Brent Hueth & Ethan Ligon, 1999. "Producer Price Risk and Quality Measurement," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(3), pages 512-524.
  2. Hueth, Brent & Ligon, Ethan, 1998. "Quality Measurement And Risk-Sharing In Contracts For California Fruits And Vegetables," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20957, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  3. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555, October.
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  7. Joost M.E. Pennings & Philip Garcia, 2001. "Measuring Producers' Risk Preferences: A Global Risk-Attitude Construct," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 993-1009.
  8. Ligon, Ethan, 2002. "Estimation of an Efficient Tomato Contract," Staff General Research Papers 10235, Iowa State University, Department of Economics.
  9. Hueth, Brent & Wolf, Stephen & Ligon, Ethan, 2001. "Policing Mechanisms in Agricultural Contracts," Staff General Research Papers 5257, Iowa State University, Department of Economics.
  10. K. K. Lancaster, 2010. "A New Approach to Consumer Theory," Levine's Working Paper Archive 1385, David K. Levine.
  11. MacDonald, James M. & Perry, Janet E. & Ahearn, Mary Clare & Banker, David E. & Chambers, William & Dimitri, Carolyn & Key, Nigel D. & Nelson, Kenneth E. & Southard, Leland W., 2004. "Contracts, Markets, and Prices: Organizing the Production and Use of Agricultural Commodities," Agricultural Economics Reports 34013, United States Department of Agriculture, Economic Research Service.
  12. Gary Charness & Uri Gneezy, 2010. "Portfolio Choice And Risk Attitudes: An Experiment," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 133-146, 01.
  13. Brent Hueth & Tigran Melkonyan, 2004. "Identity Preservation, Multitasking, and Agricultural Contract Design," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(3), pages 842-847.
  14. Jayson L. Lusk & Keith H. Coble, 2005. "Risk Perceptions, Risk Preference, and Acceptance of Risky Food," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(2), pages 393-405.
  15. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  16. Hu, Wuyang & Woods, Timothy A. & Bastin, Sandra, 2009. "Consumer Acceptance and Willingness to Pay for Blueberry Products with Nonconventional Attributes," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 41(01), April.
  17. Hatanaka, Maki & Bain, Carmen & Busch, Lawrence, 2005. "Third-party certification in the global agrifood system," Food Policy, Elsevier, vol. 30(3), pages 354-369, June.
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