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Human Capital, Adjustments in Subjective Probabilities, and The Demand for Pest Controls

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  • Pingali, Prabhu L.
  • Carlson, Gerald A.

Abstract

This study shows, in the case of North Carolina apple farmers that a reduction in the perceived risk of pest damage results in a reduction in the levels of pesticides. Increases in the farmer's human capital stock reduce perceived risks. Schooling and age have the largest elasticities of adjustment in subjective probabilities.

Suggested Citation

  • Pingali, Prabhu L. & Carlson, Gerald A., 1982. "Human Capital, Adjustments in Subjective Probabilities, and The Demand for Pest Controls," 1982 Annual Meeting, August 1-4, Logan, Utah 279159, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea82:279159
    DOI: 10.22004/ag.econ.279159
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    References listed on IDEAS

    as
    1. Richard E. Just & Rulon D. Pope, 1979. "Production Function Estimation and Related Risk Considerations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(2), pages 276-284.
    2. Menezes, C F & Hanson, D L, 1970. "On the Theory of Risk Aversion," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 11(3), pages 481-487, October.
    3. Zeckhauser, Richard & Keeler, Emmett, 1970. "Another Type of Risk Aversion," Econometrica, Econometric Society, vol. 38(5), pages 661-665, September.
    4. Jock R. Anderson, 1973. "Sparse Data, Climatic Variability, and Yield Uncertainty in Response Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 55(1), pages 77-82.
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