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Importance, Causes, and Management Responses to Farm Risks: Evidence From Florida and Alabama

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  • Boggess, William G.
  • Anaman, Kwabena A.
  • Hanson, Gregory D.

Abstract

Despite the contention that risk and uncertainty play an important role in agriculture in North Florida and South Alabama, very little is known about producers' perceptions of risk. This paper describes the procedures used and the results obtained from a statistically random survey of farmers' perceptions of the importance of various sources of risk and alternative risk management practices. Initially, farmers were asked to define risk and then to rank various sources of risk and management responses to risk based on the relative importance of each to their operation. Summary statistics, Chi-square analyses, and logistic regression techniques were used to analyze the data.

Suggested Citation

  • Boggess, William G. & Anaman, Kwabena A. & Hanson, Gregory D., 1985. "Importance, Causes, and Management Responses to Farm Risks: Evidence From Florida and Alabama," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 17(2), pages 105-116, December.
    • Handle: RePEc:cup:jagaec:v:17:y:1985:i:02:p:105-116_02
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    1. Nigel D. Poole, 2000. "Production and Marketing Strategies of Spanish Citrus Farmers," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(2), pages 210-223, May.
    2. Young, Katherine D. & Shumway, C. Richard, 1991. "Cow-Calf Producers' Perceived Profit Maximization Objective: A Logit Analysis," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 23(1), pages 1-8, July.
    3. MacNicol, R. & Ortmann, Gerald F. & Ferrer, Stuart R.D., 2007. "Perceptions of key business and financial risk by large-scale sugarcane farmers in KwaZulu-Natal in a dynamic socio-political environment," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 46(3), pages 1-20, September.
    4. Boyer, Christopher N. & Larson, James A. & Roberts, Roland K. & McClure, Angela T. & Tyler, Donald D., 2014. "The impact of field size and energy cost on the profitability of supplemental corn irrigation," Agricultural Systems, Elsevier, vol. 127(C), pages 61-69.
    5. Beal, Diana J., 1996. "Emerging Issues in Risk Management in Farm Firms," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 64(03), pages 1-12, December.
    6. Jannsen, Larry & Stover, Ron & Clark, Virginia, 1990. "The Structure Of Families And Changes In Farm Organization And Structure," 1990 Conference, January 6-9, Albuquerque, New Mexico 260183, Regional Research Committe NC-181: Determinants of Farm Size and Structure.
    7. 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.
    8. repec:zbw:inwedp:592016 is not listed on IDEAS
    9. Vandeveer, Lonnie R. & Paxton, Kenneth W. & Lavergne, David R., 1989. "Irrigation And Potential Diversification Benefits In Humid Climates," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(2), pages 1-8, December.
    10. Perry, Gregory M. & McCarl, Bruce A. & Rister, M. Edward, 1988. "Modelling Farm Program-Crop Mix Decisions Under Risk," Regional Research Projects > 1988: S-180 Annual Meeting, March 20-23, 1988, Savannah, Georgia 272783, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    11. Knight, Thomas O. & Lovell, Ashley C. & Rister, M. Edward & Coble, Keith H., 1989. "An Analysis of Lenders' Influence on Agricultural Producers' Risk Management Decisions," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 21(2), pages 21-33, December.
    12. Boyer, Christopher N. & Larson, James A. & Roberts, Roland K. & McClure, Angela T. & Tyler, Donald D. & Smith, S. Aaron, 2014. "Probability of Irrigated Corn Being Profitable in a Humid Region," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162470, Southern Agricultural Economics Association.
    13. 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.
    14. Meuwissen, Miranda P.M. & Huirne, Ruud B.M. & Hardaker, J. Brian, 1999. "Perceptions Of Risks And Risk Management Strategies; An Analysis Of Dutch Livestock Farmers," 1999 Annual meeting, August 8-11, Nashville, TN 21507, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. 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.
    16. Waithira, Waweru Caroline, 2017. "An Analysis Of Risk Attitudes And Risk Management Strategies Among Dairy Farmers In Murang’A County, Kenya," Research Theses 276428, Collaborative Masters Program in Agricultural and Applied Economics.
    17. David C. Hall & Thomas O. Knight & Keith H. Coble & Alan E. Baquet & George F. Patrick, 2003. "Analysis of Beef Producers' Risk Management Perceptions and Desire for Further Risk Management Education," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 25(2), pages 430-448.
    18. 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.
    19. Martin, Sandra, 1996. "Risk Management Strategies in New Zealand Agriculture and Horticulture," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 64(01), pages 1-14, April.
    20. MacNicol, R. & Ortmann, Gerald F. & Ferrer, Stuart R.D., 2008. "Management decisions on commercial sugarcane farms in KwaZulu-Natal: a focus on choice bracketing behaviour for risk management," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 47(1), pages 1-24, March.
    21. Bullock, W. I. & Ortmann, G. F. & Levin, J. B., 1994. "Farmer Characteristics, Risk Sources And Managerial Responses To Risk In Vegetable Farming: Evidence From Large- And Small-Scale Commercial Vegetable Farmers In Kwazulu-Natal," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 33(3), September.
    22. Waweru, Caroline Waithira & Nyikal, Rose & Busienei, John R, 2017. "An Analysis Of Risk Attitudes And Risk Management Strategies Among Dairy Farmers In Murang’A County, Kenya," Dissertations and Theses 271063, University of Nairobi, Department of Agricultural Economics.
    23. Meiring, J. A. & Oosthuizen, L. K., 1995. "Risiko-Bronne En Gepaardgaande Bestuursoptrede: Persepsies Van Besproeiingsboere Benede Die P.K. Le Rouxdam," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 34(1), March.
    24. Jamal Shah & Majed Alharthi, 2022. "The Association between Farmers’ Psychological Factors and Their Choice to Adopt Risk Management Strategies: The Case of Pakistan," Agriculture, MDPI, vol. 12(3), pages 1-24, March.

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