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Information sources and risk attitudes of large-scale farmers, farm managers, and agricultural bankers

Author

Listed:
  • George F. Patrick

    (Purdue University, West Lafayette, IN 47907-1145)

  • Stanton Ullerich

    (Buena Vista College, Storm Lake, IA 50588)

Abstract

Views of large-scale farmers, professional farm managers, and agricultural bankers on sources of information as well as sources of and responses to risk in agriculture are explored. The groups rated nine or more information sources at 3.0 or higher on a 5-point scale for production decisions. Fewer sources were rated as important for marketing and financial decisions. Internal information sources such as records, tenants, or borrowers were highly rated. In contrast to large-scale farmers, both farm managers and agricultural bankers rated professional colleagues as important information sources. Responses were similar with respect to sources of and managerial responses to risk, and in their self-assessment of management skills. © 1996 John Wiley & Sons, Inc.

Suggested Citation

  • George F. Patrick & Stanton Ullerich, 1996. "Information sources and risk attitudes of large-scale farmers, farm managers, and agricultural bankers," Agribusiness, John Wiley & Sons, Ltd., vol. 12(5), pages 461-471.
    • Handle: RePEc:wly:agribz:v:12:y:1996:i:5:p:461-471
    DOI: 10.1002/(SICI)1520-6297(199609/10)12:5<461::AID-AGR5>3.0.CO;2-4
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    References listed on IDEAS

    as
    1. Patrick, George F. & Ortmann, Gerald F. & Musser, Wesley N. & Doster, D. Howard, 1993. "Information Sources of Large-Scale Farmers," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 8(3), pages 1-2.
    2. Carter, Bryson R. & Batte, Marvin T., 1994. "Selecting Delivery Methods for Outreach Education Programs," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 26(2), pages 473-484, December.
    3. Stephen A. Ford & Emerson M. Babb, 1989. "Farmer sources and uses of information," Agribusiness, John Wiley & Sons, Ltd., vol. 5(5), pages 465-476.
    4. Eugene Jones & Marvin T. Batte & Gary D. Schnitkey, 1989. "The impact of economic and socioeconomic factors on the demand for information: A case study of Ohio commercial farmers," Agribusiness, John Wiley & Sons, Ltd., vol. 5(6), pages 557-571.
    5. Gerald F. Ortmann & George F. Patrick & Wesley N. Musser & D. Howard Doster, 1993. "Use of private consultants and other sources of information by large cornbelt farmers," Agribusiness, John Wiley & Sons, Ltd., vol. 9(4), pages 391-402.
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    Cited by:

    1. Bertoli, Roberto & Zuluaf, Carl R. & Irwin, Scott H. & Jackson, Thomas E. & Good, Darrel L., 1999. "The Marketing Style Of Advisory Services For Corn And Soybeans In 1995," AgMAS Project Research Reports 14792, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    2. Irwin, Scott H. & Good, Darrel L. & Martines-Filho, Joao Gomes & Jackson, Thomas E., 2000. "Do Agricultural Market Advisory Services Beat The Market? Evidence From The Corn And Soybean Markets Over 1995-1998," AgMAS Project Research Reports 14786, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    3. Bard, Sharon K. & Barry, Peter J., 2000. "Developing A Scale For Assessing Risk Attitudes Of Agricultural Decision Makers," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 3(01), pages 1-17.
    4. Bard, Sharon K. & Barry, Peter J., 2001. "Assessing Farmers' Attitudes Toward Risk Using The "Closing-In" Method," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(01), pages 1-13, July.
    5. Perry, Janet E. & Johnson, James D., 2000. "Influences Of Human Capital And Farm Characteristics On Farmers' Risk Attitudes," 2000 Producer Marketing and Risk Management Conference, January 13-14, Orlando, FL 19581, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. S. Martin & F. McLeay, 1998. "The Diversity of Farmers' Risk Management Strategies in a Deregulated New Zealand Environment," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(2), pages 218-233, June.
    7. Pennings, Joost M.E. & Isengildina, Olga & Irwin, Scott H. & Good, Darrel L., 2004. "The Impact of Market Advisory Service Recommendations on Producers' Marketing Decisions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(2), pages 1-20, August.
    8. Sulewski, Piotr & Kłoczko-Gajewska, Anna, 2014. "Farmers’ risk perception, risk aversion and strategies to cope with production risk: an empirical study from Poland," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 116(3), pages 1-8, December.
    9. O'Brien, Phil & Morse, George W., 2006. "Minnesota Extension's Mixed Regional/County Model: Greater Impacts Follows Changes in Structure," Staff Papers 13614, University of Minnesota, Department of Applied Economics.
    10. Pennings, Joost M.E. & Good, Darrel L. & Irwin, Scott H. & Gomez, Jennifer K., 2001. "The Role Of Market Advisory Services In Crop Marketing And Risk Management: A Preliminary Report Of Survey Results," AgMAS Project Research Reports 14772, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    11. Manuela Larcher & Martin Schönhart & Erwin Schmid, 2016. "Risikobewertung und Risikomanagement landwirtschaftlicher BetriebsleiterInnen in Österreich – deskriptive Befragungsergebnisse 2015," Working Papers 592016, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    12. Thi Tam Duong & Tom Brewer & Jo Luck & Kerstin Zander, 2019. "A Global Review of Farmers’ Perceptions of Agricultural Risks and Risk Management Strategies," Agriculture, MDPI, vol. 9(1), pages 1-16, January.
    13. Isengildina, Olga & Pennings, Joost M.E. & Irwin, Scott H. & Good, Darrel L., 2004. "Crop Farmers’ Use of Market Advisory Services," AgMAS Project Research Reports 37489, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    14. Irwin, Scott H. & Jackson, Thomas E. & Good, Darrel L., 1999. "Do Agricultural Market Advisory Services Beat The Market? Evidence From The Corn And Soybean Markets Over 1995-1997," AgMAS Project Research Reports 14789, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    15. Joni M. Klumpp & B. Wade Brorsen & Kim B. Anderson, 2008. "Market Advisory Service Recommendations and Wheat Producers' Selling Decisions," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 56(1), pages 117-128, March.
    16. Schulze, Birgit, 2011. "Dynamic Markets – Dynamic Relationships: The Example of Grain Marketing in Germany," 2011 International European Forum, February 14-18, 2011, Innsbruck-Igls, Austria 122001, International European Forum on System Dynamics and Innovation in Food Networks.
    17. Irwin, Scott H. & Martines-Filho, Joao Gomes & Good, Darrel L., 2003. "The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2001," AgMAS Project Research Reports 37510, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    18. Vergara, Oscar & Coble, Keith H. & Hudson, Darren & Knight, Thomas O. & Patrick, George F. & Baquet, Alan E., 2005. "Target Markets for Grain and Cotton Marketing Consultants and Market Information Systems," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 30(01), pages 1-17, April.
    19. Silvina M. Cabrini & Brian G. Stark & Hayri Önal & Scott H. Irwin & Darrel L. Good & João Martines-Filho, 2004. "Efficiency Analysis of Agricultural Market Advisory Services: A Nonlinear Mixed-Integer Programming Approach," Manufacturing & Service Operations Management, INFORMS, vol. 6(3), pages 237-252, December.
    20. Jirik, Mark A. & Irwin, Scott H. & Good, Darrel L. & Martines-Filho, Joao Gomes & Jackson, Thomas E., 2001. "Do Agricultural Market Advisory Services Beat The Market? Evidence From The Wheat Market Over 1995-1998," AgMAS Project Research Reports 14778, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    21. Larcher, Manuela & Schönhart, Martin & Schmid, Erwin, 2016. "Risikobewertung und Risikomanagement landwirtschaftlicher BetriebsleiterInnen in Österreich – deskriptive Befragungsergebnisse 2015," Discussion Papers DP-59-2016, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    22. Good, Darrel L. & Martines-Filho, Joao Gomes & Irwin, Scott H., 2002. "The Pricing Performance Of Market Advisory Services In Corn And Soybeans Over 1995-2000," AgMAS Project Research Reports 14784, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    23. Klumpp, Joni M. & Brorsen, B. Wade & Anderson, Kim B., 2005. "The Impact of Marketing Strategy Information on the Producer's Selling Decision," 2005 Conference, April 18-19, 2005, St. Louis, Missouri 19036, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    24. Kabir, Md. Jahangir & Cramb, Rob & Alauddin, Mohammad & Gaydon, Donald S., 2019. "Farmers’ perceptions and management of risk in rice-based farming systems of south-west coastal Bangladesh," Land Use Policy, Elsevier, vol. 86(C), pages 177-188.
    25. Good, Darrel L. & Irwin, Scott H. & Martines-Filho, Joao Gomes & Hagedorn, Lewis A., 2005. "The Pricing Performance of Market Advisory Services in Corn and Soybeans over 1995-2003," AgMAS Project Research Reports 14775, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.

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