A Note On Decreasing Absolute Risk Aversion Among Farmers In Nepal
Attitudes toward risk are explored for a sample of rice growers on small farms in Nepal, in the context of the subjective expected utility maximisation model. Farmers are found to be generally averse to risk, with diverse levels of absolute risk aversion that tend to diminish as wealth increases, both for individuals and in a cross-sectional sense. Relative risk aversion is argued to be the most comparable measure for contrasts of attitudes toward risk.
Volume (Year): 26 (1982)
Issue (Month): 03 (December)
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- Ross, Stephen A, 1981. "Some Stronger Measures of Risk Aversion in the Small and the Large with Applications," Econometrica, Econometric Society, vol. 49(3), pages 621-38, May.
- Hildreth, Clifford & Knowles, Glenn J., 1982. "Some Estimates of Farmers' Utility Functions," Technical Bulletins 54545, University of Minnesota, Agricultural Experiment Station.
- Sandmo, Agnar, 1971. "On the Theory of the Competitive Firm under Price Uncertainty," American Economic Review, American Economic Association, vol. 61(1), pages 65-73, March.
- Anderson, Jock R. & Feder, Gershon, 2007. "Agricultural Extension," Handbook of Agricultural Economics, Elsevier.
- Charles M. Harvey, 1981. "Conditions on Risk Attitude for a Single Attribute," Management Science, INFORMS, vol. 27(2), pages 190-203, February.
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