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Management of climate risks in the wine sector: a field study on risky behaviour

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  • Ben Salk, Sana
  • Blondel, Serge
  • Daniel, Christophe
  • Deffains-Crapsky, Catherine
  • Jutard, Catherine
  • Sejourne, Bruno

Abstract

In agriculture, there is need for a deeper analysis of management of climate risks, because the farmers appear to have a paradoxical position: they perceived that they are strongly exposed to climate risks but, they do not want to pay for adapted tools, arguing that this is too expensive or complex. However, under risk, it is well-known that the decision-makers could be subject to paradox (Allais for example). Our assumption is that to know better the behaviours of farmers in general risky situations will help to understand their reluctance to use the weather market. We conducted a study over the wine growers in the Maine-et-Loire department. 60 wine growers have responded to the questionnaire about climate risk management, and 29 amongst them have completed the second questionnaire about risky behaviours. Results will be presented at the EAAE congress.

Suggested Citation

  • Ben Salk, Sana & Blondel, Serge & Daniel, Christophe & Deffains-Crapsky, Catherine & Jutard, Catherine & Sejourne, Bruno, 2007. "Management of climate risks in the wine sector: a field study on risky behaviour," 101st Seminar, July 5-6, 2007, Berlin Germany 9251, European Association of Agricultural Economists.
    • Handle: RePEc:ags:eaa101:9251
    DOI: 10.22004/ag.econ.9251
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    References listed on IDEAS

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    1. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    2. Amos Tversky & Daniel Kahneman, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(4), pages 1039-1061.
    3. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56(4), pages 279-279.
    4. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
    5. Cyr, Don & Kusy, Martin, 2007. "Identification of stochastic processes for an estimated icewine temperature hedging variable," Working Papers 37298, American Association of Wine Economists.
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    Cited by:

    1. María Amelia Gibbons & Alessandro Maffioli & Martín Rossi, 2016. "Money for Wine?: Complementarities in the Provision of Private and Public Goods to Wine Producers," IDB Publications (Working Papers) 94217, Inter-American Development Bank.

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