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The role of risk in shaping production decisions: an empirical analysis

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  • Ruth Vargas Hill

Abstract

This paper uses data on risk preferences and perceptions of risk collected through hypothetical questions in combination with more traditional measures of a households` ability to deal with risk to identify the impact of risk on production decisions. Contextualized hypothetical questions on risk preferences and risk perceptions were collected along with standard socioeconomic survey for 300 coffee-farming households in Uganda. This data is used here to show both that data collected from hypothetical questions can be usefully utilised to understand a household`s behaviour under risk in real settings, and that risk has a significant impact on the production decisions of poor coffee farmers in Uganda.

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File URL: http://www.gprg.org/pubs/workingpapers/pdfs/gprg-wps-049.pdf
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Bibliographic Info

Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number GPRG-WPS-049.

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Date of creation: 01 Sep 2006
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Handle: RePEc:oxf:wpaper:gprg-wps-049

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  1. Hans Binswanger, 1980. "Attitudes toward risk: Experimental measurement in rural india," Artefactual Field Experiments, The Field Experiments Website 00009, The Field Experiments Website.
  2. Battalio, Raymond C & Kagel, John H & Jiranyakul, Komain, 1990. " Testing between Alternative Models of Choice under Uncertainty: Some Initial Results," Journal of Risk and Uncertainty, Springer, Springer, vol. 3(1), pages 25-50, March.
  3. Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
  4. Camerer, Colin F & Hogarth, Robin M, 1999. "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework," Journal of Risk and Uncertainty, Springer, Springer, vol. 19(1-3), pages 7-42, December.
  5. Camerer, Colin F, 1989. " An Experimental Test of Several Generalized Utility Theories," Journal of Risk and Uncertainty, Springer, Springer, vol. 2(1), pages 61-104, April.
  6. Grether, David M & Plott, Charles R, 1979. "Economic Theory of Choice and the Preference Reversal Phenomenon," American Economic Review, American Economic Association, American Economic Association, vol. 69(4), pages 623-38, September.
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Cited by:
  1. McKenzie, David & Gibson, John & Stillman, Steven, 2013. "A land of milk and honey with streets paved with gold: Do emigrants have over-optimistic expectations about incomes abroad?," Journal of Development Economics, Elsevier, Elsevier, vol. 102(C), pages 116-127.
  2. Adeline Delavande & Hans-Peter Kohler, 2009. "Subjective expectations in the context of HIV/AIDS in Malawi," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 20(31), pages 817-875, June.

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