Savings and technology choice for risk averse farmers
Farmers in developing countries have limited opportunities for borrowing to even out variability associated with risky farm income, but they can save. A dynamic programming model of savings is presented in the current paper which examines optimal savings strategies for farmers, using a case study of integrated rice-shrimp farms in Vietnam. It is shown that when savings are accounted for, the expected utility ranking of different risky farm choices may not differ that much between farmers with different levels of risk aversion.
Volume (Year): 46 (2002)
Issue (Month): 4 (December)
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- Goetz, R U, 1993. "Land Allocation under Consideration of Weather-Induced Crop Yield Variations: Decision Support by a Crop Yield Simulation and Risk Analysis Model (ERM)," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 20(2), pages 199-221.
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