Cow-Calf Producer Risk Preference Impacts on Retained Ownership Strategies
Considerable efforts have been made to provide cow-calf producers with information to help them make informed decisions about adding value to calves. Despite demonstrated market incentives to retain calves, many producers still sell right after weaning. We postulate this observed behavior is related to producer risk aversion. Our study concludes risk aversion is an important factor affecting calf retention as the most risk-averse producers have more than a 60% probability of selling calves at weaning and the most risk tolerant have less than a 20% probability of selling at weaning.
Volume (Year): 43 (2011)
Issue (Month): 04 (November)
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- Fausti, Scott W. & Gillespie, Jeffrey M., 2006.
"Measuring risk attitude of agricultural producers using a mail survey: how consistent are the methods?,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 50(2), June.
- Scott Fausti & Jeffrey Gillespie, 2006. "Measuring risk attitude of agricultural producers using a mail survey: how consistent are the methods?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(2), pages 171-188, 06.
- Joost M.E. Pennings & Philip Garcia, 2001. "Measuring Producers' Risk Preferences: A Global Risk-Attitude Construct," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 993-1009.
- Gillespie, Jeffrey M. & Basarir, Aydin & Schupp, Alvin R., 2004.
"Beef Producer Choice In Cattle Marketing,"
2004 Annual Meeting, February 14-18, 2004, Tulsa, Oklahoma
34792, Southern Agricultural Economics Association.
- Hodur, Nancy M. & Leistritz, F. Larry & Nudell, Daniel J. & Clark, Clint & Griffith, Duane & Jensen, Tammie, 2007. "Northern Great Plains Beef Production: Production and Marketing Practices of Cow-Calf Producers," Agribusiness & Applied Economics Report 7643, North Dakota State University, Department of Agribusiness and Applied Economics.
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