The measurement of farmers' risk attitudes using a non-structural approach
This study estimates farmers' risk attitudes in Missouri using a non-structural approach over time. The non-structural approach proposed by Antle (1989) allows for multiple outputs and various types of risk faced by farmers and doesn't require specific functional forms for utility or production. This approach can also provide farmers' risk attitudes over time. The results show that farmers' risk attitudes are risk loving and change over time, while farmers' risk attitude is generally assumed to be risk averse and very stable over time. Since this approach has the different definition of risk attitude, the results of this study may be a bit different from previous studies.
Volume (Year): 31 (2008)
Issue (Month): 2 (May)
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- David A. Hennessy, 1998.
"The Production Effects of Agricultural Income Support Policies under Uncertainty,"
American Journal of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 80(1), pages 46-57.
- Hennessy, David A., 1998. "The Production Effects of Agricultural Income Support Policies Under Uncertainty," Staff General Research Papers Archive 1207, Iowa State University, Department of Economics.
- Atanu Saha & C. Richard Shumway & Hovav Talpaz, 1994. "Joint Estimation of Risk Preference Structure and Technology Using Expo-Power Utility," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(2), pages 173-184.
- Harwood, Joy L. & Heifner, Richard G. & Coble, Keith H. & Perry, Janet E. & Somwaru, Agapi, 1999. "Managing Risk in Farming: Concepts, Research, and Analysis," Agricultural Economics Reports 34081, United States Department of Agriculture, Economic Research Service.
- Bar-Shira, Ziv & Just, Richard E. & Zilberman, D., 1997. "Estimation of farmers' risk attitude: an econometric approach," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 17(2-3), December.
- Bar-Shira, Z. & Just, R. E. & Zilberman, D., 1997. "Estimation of farmers' risk attitude: an econometric approach," Agricultural Economics, Blackwell, vol. 17(2-3), pages 211-222, December.
- Bar-Shira, Z. & Just, Richard E. & Zilberman, David, 1994. "Estimation of Farmers' Risk Attitude: An Econometric Approach," Working Papers 197812, University of Maryland, Department of Agricultural and Resource Economics.
- Stock, James H & Wright, Jonathan H & Yogo, Motohiro, 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 518-529, October.
- H. Alan Love & Steven T. Buccola, 1991. "Joint Risk Preference-Technology Estimation with a Primal System," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(3), pages 765-774.
- Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, July. Full references (including those not matched with items on IDEAS)
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