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Learning by Doing, Risk Aversion and Use of Risk Management Strategies

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  • Uematsu, Hiroki
  • Ashok, Mishra K.

Abstract

Using a national survey, double hurdle models are estimated to examine the impact of farmers’ risk attitude on use of production and marketing contracts. Risk averse farmers are less likely to use contracts but risk attitude does not have any significant impact on the intensity at which contracts are adopted.

Suggested Citation

  • Uematsu, Hiroki & Ashok, Mishra K., 2011. "Learning by Doing, Risk Aversion and Use of Risk Management Strategies," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103851, Agricultural and Applied Economics Association.
  • Handle: RePEc:ags:aaea11:103851
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    File URL: http://purl.umn.edu/103851
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    Keywords

    Risk attitude; Double hurdle model; production contracts; marketing contracts; Agribusiness; Crop Production/Industries; Farm Management; Livestock Production/Industries; Marketing; Risk and Uncertainty; Q10; Q13; D81;

    JEL classification:

    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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