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Savings and technology choice for risk averse farmers

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  • Brennan, Donna C.

Abstract

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.

Suggested Citation

  • Brennan, Donna C., 2002. "Savings and technology choice for risk averse farmers," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 46(4), December.
  • Handle: RePEc:ags:aareaj:118593
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    File URL: http://purl.umn.edu/118593
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    References listed on IDEAS

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    1. Bruce L. Gardner & Ramón López, 1996. "The Inefficiency of Interest-Rate Subsidies in Commodity Price Stabilization," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 508-516.
    2. 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.
    3. Fraser, Rob W., 1992. "An Analysis Of Willingness-To-Pay For Crop Insurance," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 36(01), April.
    4. Peter J. Barry & C. B. Baker & Luis R. Sanint, 1981. "Farmers' Credit Risks and Liquidity Management," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(2), pages 216-227.
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    Cited by:

    1. Glukhikh, Rimma & Lerman, Zvi & Schwartz, Moshe, 2005. "Vulnerability And Risk Management Among Turkmen Leaseholders," Discussion Papers 7144, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
    2. Glukhikh, Rimma & Lerman, Zvi & Schwartz, Moshe, 2006. "Vulnerability and Risk Management among Turkmen Leaseholders," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25757, International Association of Agricultural Economists.

    More about this item

    Keywords

    Farm Management; Risk and Uncertainty;

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