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Combining risk perception and risk attitude: A comprehensive individual risk behavior model

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  • van Winsen, Frankwin
  • Wauters, Erwin
  • Lauwers, Ludwig H.
  • de Mey, Yann
  • Van Passel, Steven
  • Vancauteren, Mark

Abstract

Although risk management in farming is a well-documented subject in scientific literature, this same literature is usually used only by other scientist and is not aiding individual farmers in their management. Risk perception and risk attitude are well described determinants of risk behaviour but rarely combined in an integrated approach for risk behaviour research. Furthermore in most literature risk attitude is taken as a given stable personality trait on which the optimal behaviour should be based. We argue that risk attitude can be manageable in order to derive optimal risk behaviour. Based on these findings we develop a comprehensive theoretical basic model on farmers risk behaviour. Furthermore a participatory approach involving the stakeholder, the farmer, to build on this model is presented. This presented model has as final purpose of guiding research on establishing risk management tools applicable by farmers.

Suggested Citation

  • van Winsen, Frankwin & Wauters, Erwin & Lauwers, Ludwig H. & de Mey, Yann & Van Passel, Steven & Vancauteren, Mark, 2011. "Combining risk perception and risk attitude: A comprehensive individual risk behavior model," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 115749, European Association of Agricultural Economists.
    • Handle: RePEc:ags:eaae11:115749
    DOI: 10.22004/ag.econ.115749
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    References listed on IDEAS

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    Cited by:

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    2. Nadhrah Manas & Norhayati Zakuan & Muhamad Zameri Mat Saman & Mariam Setapa, 2024. "Enterprise Risk Management Practices in Malaysian Small and Medium-Sized Enterprises: An Overview," Information Management and Business Review, AMH International, vol. 16(2), pages 236-250.
    3. Hu, Jing & Harmsen, Robert & Crijns-Graus, Wina & Worrell, Ernst, 2018. "Barriers to investment in utility-scale variable renewable electricity (VRE) generation projects," Renewable Energy, Elsevier, vol. 121(C), pages 730-744.
    4. Woldegebrial Zeweld & Guido Van Huylenbroeck & Girmay Tesfay & Stijn Speelman, 2019. "Impacts of socio-psychological factors on smallholder farmers’ risk attitudes: empirical evidence and implications," Agrekon, Taylor & Francis Journals, vol. 58(2), pages 253-279, April.
    5. Sohel M. Imroz & Tamilla Curtis & Scott C. Ambrose, 2023. "Perception of Crisis Management, Service Quality, and Loyalty Programs on Airline Travel Intention: What Roles Do Fear of COVID-19 and Risk Attitude Play?," Sustainability, MDPI, vol. 15(18), pages 1-16, September.

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    Risk and Uncertainty;

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