Consistency of risk premium measures
This research uses the results of a series of within-sample experiments to elicit risk premium measures from agricultural producers. Results show that there is little consistency between measures in different contexts and using different elicitation methods, suggesting that underlying risk preferences are not consistent. These results highlight some of the difficulty with expected utility theory and risk measurement. Copyright 2005 International Association of Agricultural Economics.
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Volume (Year): 33 (2005)
Issue (Month): 1 (07)
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- Oliver Musshoff & Norbert Hirschauer, 2008.
"Investment planning under uncertainty and flexibility: the case of a purchasable sales contract ,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 52(1), pages 17-36, 03.
- Musshoff, Oliver & Hirschauer, Norbert, 2008. "Investment planning under uncertainty and flexibility: the case of a purchasable sales contract," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(1), March.
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- Heidelbach, Olaf, 2007. "Efficiency of selected risk management instruments: An empirical analysis of risk reduction in Kazakhstani crop production," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 40, number 92323, June.
- Lucie Schmidt, 2008. "Risk preferences and the timing of marriage and childbearing," Demography, Springer;Population Association of America (PAA), vol. 45(2), pages 439-460, May.
- Lucie Schmidt, 2007. "Risk Preferences and the Timing of Marriage and Childbearing," Department of Economics Working Papers 2007-03, Department of Economics, Williams College.
- Franken, Jason R.V. & Pennings, Joost M.E. & Garcia, Philip, 2012. "Measuring Risk Attitude and Relation to Marketing Behavior," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124471, Agricultural and Applied Economics Association.
- Pemsl, D. & Waibel, H., 2007. "Assessing the profitability of different crop protection strategies in cotton: Case study results from Shandong Province, China," Agricultural Systems, Elsevier, vol. 95(1-3), pages 28-36, December.
- Musshoff, Oliver & Hirschauer, Norbert, 2006. "Wie viel bringt eine verbesserte Produktionsprogrammplanung auf der Grundlage einer systematischen Auswertung empirischer Zeitreihen? â€“ Die Bedeutung von Prognosemodellen bei der Optimierung unter U," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 55(4).
- Buchholz, Matthias & Musshoff, Oliver, 2014. "The role of weather derivatives and portfolio effects in agricultural water management," Agricultural Water Management, Elsevier, vol. 146(C), pages 34-44.
- Buchholz, Matthias & Musshoff, Oliver, 2014. "The role of weather derivatives and portfolio effects in agricultural water management," 2014 Conference (58th), February 4-7, 2014, Port Maquarie, Australia 165812, Australian Agricultural and Resource Economics Society.
- Haverkamp, Matthias Wolbert & Musshoff, Oliver, 2013. "Are short rotation coppices an alternative to traditional agricultural land use in Germany? A real options approach," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152184, Australian Agricultural and Resource Economics Society.
- Alfnes, Frode & Rickertsen, Kyrre & Ueland, Oydis, 2005. "Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness," 2005 Annual meeting, July 24-27, Providence, RI 19285, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Alfnes, Frode & Rickertsen, Kyrre & Ueland, Oydis, 2005. "Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24553, European Association of Agricultural Economists.
- Tubetov, Dulat & Musshoff, Oliver & Kellner, Ulla, 0. "Investments in Kazakhstani Dairy Farming: A Comparison of Classical Investment Theory and the Real Options Approach," Quarterly Journal of International Agriculture, Humboldt-UniversitÃ¤t zu Berlin, vol. 51.
- Musshoff, Oliver & Hirschauer, Norbert, 2008. "Sophisticated Program Planning Approaches Generate Large Benefits in High Risk Crop Farming," 82nd Annual Conference, March 31 - April 2, 2008, Royal Agricultural College, Cirencester, UK 36865, Agricultural Economics Society.
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- Oliver Mußhoff & Norbert Hirschauer, 2007. "Improved program planning with formal models? The case of high risk crop farming in Northeast Germany," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 15(2), pages 127-141, June.
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