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Do Irish cereal producers use multiple cropping as a strategy for dealing with risk?

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Author Info
Boyle, G.E. () (Economics Dept, NUI Maynooth)
McQuinn, K. (Central Bank of Ireland)

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Abstract

Portfolio theory suggests that risk-averse agents favour a diversified portfolio of assets as a strategy to offset market risk. This paper explicitly tests whether Irish cereal producers decision to engage in multi-crop production (asset diversification) in itself reveals a relatively risk-averse nature. The issue is examined within the context of sample selection bias, where multi-croppers (portfolio diversifiers) are treated as a sub-sample of a general sample (mono + multi croppers) of Irish cereal production.

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File URL: http://economics.nuim.ie/research/workingpapers/documents/N1250903.pdf
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Publisher Info
Paper provided by Department of Economics, Finance and Accounting, National University of Ireland - Maynooth in its series Economics, Finance and Accounting Department Working Paper Series with number n1250903.

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Length: 26
Date of creation: Sep 2003
Date of revision:
Handle: RePEc:may:mayecw:n1250903

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Postal: Maynooth, Co. Kildare
Phone: 353-1-7083728
Fax: 353-1-7083934
Web page: http://www.may.ie/academic/economics/
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Related research
Keywords: Risk Attitudes; Heckman Two-Step; Fixed Effects.;

Find related papers by JEL classification:
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data
C34 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Truncated and Censored Models
Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance

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This page was last updated on 2009-11-25.

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