IDEAS home Printed from https://ideas.repec.org/p/ags/aaea80/278878.html
   My bibliography  Save this paper

Factors Affecting Farmers' Risk-Income Preferences

Author

Listed:
  • Patrick, George F.
  • Whitaker, Suzanne H.
  • Blake, Brian F.

Abstract

Risk-income preferences are derived from 91 Central Indiana farmers using magnitude estimation. Variability-income and bankruptcyincome measures developed are related to socioeconomic variables. Wealth and education have limited effects compared with off-farm employment, percent debt, and expected levels of income, percent debt and net worth growth.

Suggested Citation

  • Patrick, George F. & Whitaker, Suzanne H. & Blake, Brian F., 1980. "Factors Affecting Farmers' Risk-Income Preferences," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 278878, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea80:278878
    DOI: 10.22004/ag.econ.278878
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/278878/files/aaea-1980-061.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.278878?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Halter, A.N. & Mason, Robert, 1978. "Utility Measurement For Those Who Need To Know," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(2), pages 1-12, December.
    2. Young, Douglas L., 1979. "Risk Preferences Of Agricultural Producers: Their Use In Extension And Research," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278203, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Dillon, John L., 1971. "An Expository Review of Bernoullian Decision Theory in Agriculture: Is Utility Futility?," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 39(01), pages 1-78, March.
    4. John L. Dillon & Pasquale L. Scandizzo, 1978. "Risk Attitudes of Subsistence Farmers in Northeast Brazil: A Sampling Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(3), pages 425-435.
    5. Douglas L. Young, 1979. "Risk Preferences of Agricultural Producers: Their Use in Extension and Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 1063-1070.
    6. Whittaker, James K. & Winter, John R., 1980. "Risk Preferences Of Farmers: An Empirical Example, Some Questions, And Suggestions For Future Research," Risk Analysis in Agriculture: Research and Educational Developments, January 16-18, 1980, Tucson, Arizona 271571, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    7. Young, Douglas & Lin, William & Pope, Rulon & Robison, Lindon & Selley, Roger, 1979. "Risk Preferences Of Agricultual Producers:Their Measurement And Use," Risk Management in Agriculture: Behavioral, Managerial, and Policy Issues, January 25-26, 1979, San Francisco, California 271459, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    8. Edgardo Moscardi & Alain de Janvry, 1977. "Attitudes Toward Risk Among Peasants: An Econometric Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(4), pages 710-716.
    9. Patrick, George F. & Whitaker, Suzanne H. & Blake, Brian F., 1980. "Farmers' Goals And Risk Aversion: Some Preliminary Analyses," Risk Analysis in Agriculture: Research and Educational Developments, January 16-18, 1980, Tucson, Arizona 271564, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Olsen, Douglas Ray, 1990. "An analysis of the use of farm marketing and crop insurance risk transfer tools by Iowa farm characteristics," ISU General Staff Papers 1990010108000018157, Iowa State University, Department of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Harris, Thomas R. & Mapp, Harry P. Jr., 1981. "Irrigation Scheduling In The Oklahoma Panhandle Using Stochastic Dominance Theory," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279304, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Patrick, George F. & Blake, Brian F. & Whittaker, Suzanne H., 1981. "Magnitude Estimation: An Application To Farmers' Risk-Income Preferences," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 6(2), pages 1-10, December.
    3. Gomez-Limon, Jose A. & Arriaza, Manuel & Riesgo, Laura, 2003. "An MCDM analysis of agricultural risk aversion," European Journal of Operational Research, Elsevier, vol. 151(3), pages 569-585, December.
    4. Pei Xu & Corinne Alexander & George Patrick & Wesley Musser, 2005. "Effects of Farmers' Risk Attitudes and Personality Types on Production and Marketing Decisions," Working Papers 05-10, Purdue University, College of Agriculture, Department of Agricultural Economics.
    5. Knowles, Glenn J., 1980. "Estimating Utility Functions," Risk Analysis in Agriculture: Research and Educational Developments, January 16-18, 1980, Tucson, Arizona 271570, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    6. Gomez-Limon, Jose Antonio & Riesgo, Laura & Arriaza Balmón, Manuel, 2002. "Agricultural Risk Aversion Revisited: A Multicriteria Decision-Making Approach," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24827, European Association of Agricultural Economists.
    7. 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.
    8. Young, Douglas L., 1979. "Risk Preferences Of Agricultural Producers: Their Use In Extension And Research," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278203, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Liu, Elaine M. & Huang, JiKun, 2013. "Risk preferences and pesticide use by cotton farmers in China," Journal of Development Economics, Elsevier, vol. 103(C), pages 202-215.
    10. Young, Douglas L. & Van Kooten, G.C., 1988. "Incorporating Risk Into A Dynamic Programming Application: Flexcropping," Regional Research Projects > 1988: S-180 Annual Meeting, March 20-23, 1988, Savannah, Georgia 272781, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    11. Lins, David A. & Gabriel, Stephen C. & Sonka, Steven T., 1981. "An Analysis Of The Risk Aversion Of Farm Operators: An Asset Portfolio Approach," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 6(1), pages 1-16, July.
    12. Young, Douglas & Lin, William & Pope, Rulon & Robison, Lindon & Selley, Roger, 1979. "Risk Preferences Of Agricultual Producers:Their Measurement And Use," Risk Management in Agriculture: Behavioral, Managerial, and Policy Issues, January 25-26, 1979, San Francisco, California 271459, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    13. Levi, Loïc & Latruffe, Laure & Ridier, Aude, 2019. "Farm performance and investment decisions: evidence from the French (Brittany) dairy sector," Working Papers 285033, Institut National de la recherche Agronomique (INRA), Departement Sciences Sociales, Agriculture et Alimentation, Espace et Environnement (SAE2).
    14. Basanta R. Dhungana & Peter L. Nuthall & Gilbert V. Nartea, 2004. "Measuring the economic inefficiency of Nepalese rice farms using data envelopment analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(2), pages 347-369, June.
    15. Love, Ross O. & Robison, Lindon J., 1984. "An Empirical Analysis Of The Intertemporal Stability Of Risk Preference," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 16(1), pages 1-7, July.
    16. Musser, Wesley N., 1994. "Progress In Risk Analysis In Regional Projects," 1994 Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses Risk, Technical Committee Meeting, March 24-26, 1994, Gulf Shores State Park, Alabama 271553, Regional Research Projects > S-232: Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk.
    17. Elaine M. Liu, 2013. "Time to Change What to Sow: Risk Preferences and Technology Adoption Decisions of Cotton Farmers in China," The Review of Economics and Statistics, MIT Press, vol. 95(4), pages 1386-1403, October.
    18. Wilson, Paul N. & Eidman, Vernon R., 1983. "An Empirical Test Of The Interval Approach For Estimating Risk Preferences," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 8(2), pages 1-13, December.
    19. Ahearn, Mary Clare & Collender, Robert N. & Diao, Xinshen & Harrington, David H. & Hoppe, Robert A. & Korb, Penelope J. & Makki, Shiva S. & Morehart, Mitchell J. & Roberts, Michael J. & Roe, Terry L. , 2004. "Decoupled Payments In A Changing Policy Setting," Agricultural Economic Reports 33981, United States Department of Agriculture, Economic Research Service.
    20. Bravo-Ureta, Boris E. & Helmers, Glenn A., 1980. "E,V Frontier Analysis Using Total And Random Variance As Measures Of Risk," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 279235, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    More about this item

    Keywords

    Risk and Uncertainty;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea80:278878. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: http://www.aaea.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.