Estimation of farmers' risk attitude: An econometric approach

Z. Bar-Shira; R. E. Just; D. Zilberman

doi:10.1016/S0169-5150(97)00021-2

Estimation of farmers' risk attitude: An econometric approach

Z. Bar-Shira^*
, R. E. Just
, D. Zilberman

^*Corresponding author for this work

Department of Environmental Economics and Management

Research output: Contribution to journal › Article › peer-review

89 Scopus citations

Abstract

An econometric procedure for estimating Arrow-Pratt coefficients of risk aversion is derived. The model of farmers allocating land among different crops, and time between leisure and labor, allows for testing Arrow's hypotheses of decreasing absolute risk aversion and increasing relative risk aversion. The empirical results support these hypotheses.

Original language	English
Pages (from-to)	211-222
Number of pages	12
Journal	Agricultural Economics (United Kingdom)
Volume	17
Issue number	2-3
DOIs	https://doi.org/10.1016/S0169-5150(97)00021-2
State	Published - Dec 1997

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title = "Estimation of farmers' risk attitude: An econometric approach",

abstract = "An econometric procedure for estimating Arrow-Pratt coefficients of risk aversion is derived. The model of farmers allocating land among different crops, and time between leisure and labor, allows for testing Arrow's hypotheses of decreasing absolute risk aversion and increasing relative risk aversion. The empirical results support these hypotheses.",

author = "Z. Bar-Shira and Just, \{R. E.\} and D. Zilberman",

year = "1997",

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AU - Just, R. E.

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AB - An econometric procedure for estimating Arrow-Pratt coefficients of risk aversion is derived. The model of farmers allocating land among different crops, and time between leisure and labor, allows for testing Arrow's hypotheses of decreasing absolute risk aversion and increasing relative risk aversion. The empirical results support these hypotheses.

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Estimation of farmers' risk attitude: An econometric approach

Abstract

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