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Estimation and use of risk aversion coefficient for traditional dryland agriculture in western Sudan

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  • Eltighani M. Elamin
  • LeRoy F. Rogers

Abstract

This paper explores the importance of including risk when modeling subsistence‐oriented agriculture in a developing nation. The specific objective is to measure the degree of risk aversion for typical farmers in the smallholder traditional agriculture of the Sudan. The procedure followed is to impute the farmer's risk aversion coefficient through a mathematical risk programming technique. Imputed farmers' risk aversion coefficients were used to validate the model specified and identify, for further analysis, a single risk optimal farm plan for each of the different farm situations studied.

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  • Eltighani M. Elamin & LeRoy F. Rogers, 1992. "Estimation and use of risk aversion coefficient for traditional dryland agriculture in western Sudan," Agricultural Economics, International Association of Agricultural Economists, vol. 7(2), pages 155-166, July.
    • Handle: RePEc:bla:agecon:v:7:y:1992:i:2:p:155-166
    DOI: 10.1111/j.1574-0862.1992.tb00211.x
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    Cited by:

    1. Akay, Alpaslan & Martinsson, Peter & Medhin, Haileselassie & Trautmann, Stefan T., 2009. "Attitudes toward Uncertainty among the Poor: Evidence from Rural Ethiopia," IZA Discussion Papers 4225, Institute of Labor Economics (IZA).
    2. Koffi-Tessio, Egnonto M., 1998. "Food Security In Sub-Saharan Africa: Evidence From The "Union Economique Et Monétaire Ouest-Africaine (Uemoa)"," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 37(3), pages 1-16, September.
    3. Raymond van Der Wijngaart & John Helming & Claire Jacobs & Pedro Andres Garzon Delvaux & Steven Hoek & Sergio Gomez y Paloma, 2019. "Irrigation and irrigated agriculture potential in the Sahel: The case of the Niger river basin: Prospective review of the potential and constraints in a changing climate," JRC Research Reports JRC108657, Joint Research Centre.
    4. Alpaslan Akay & Peter Martinsson & Haileselassie Medhin & Stefan Trautmann, 2012. "Attitudes toward uncertainty among the poor: an experiment in rural Ethiopia," Theory and Decision, Springer, vol. 73(3), pages 453-464, September.

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