Under the Mac Sharry and Agenda 2000 reforms, direct payments comprised a significant portion of farmers' income in the EU. Farmers had to engage in production to receive these payments but the payments were relatively risk-free and therefore risk may not have played an important role in the...

Agricultural countries usually produce multiple crops, but a particular area of land is allocated to the production of a certain crop. Understanding how producers make decision to allot acreage among crops and how decisions about land use are affected by changes in prices and their volatility is...

This study investigates risk and time preferences of small-scale cattle farmers in West Africa and examines how demographic and socio-economic characteristics are related to these preferences. Using a maximum likelihood approach we jointly estimate risk and time preferences. Our findings show...

Previous studies emphasize that shocks can cause households to fall into poverty traps and to remain there because of risk aversion, yet to date there has been no attempt to discern whether shocks increase risk aversion over time in a developing country. We examine whether shocks increase risk...

Das Verhalten in Entscheidungssituationen ist nach SCHADE und STEUL (1998: 7) von den Komponenten Risikoeinstellung, Risikowahrnehmung und Ergebniswahrnehmung bestimmt. Während Risikoeinstellung und Ergebniswahrnehmung in der psychologischen und experimentellen Entscheidungsforschung eine...

Die regulatorischen Aktivitäten des Staates werden oftmals mit dem Vorliegen von Marktversagen begründet. Diese Perspektive ist allerdings zu eng und vernachlässigt das Auftreten von Staatsversagen. Der vorliegende Beitrag untersucht staatliche Eingriffe aus einer verhaltensökonomischen...

We analyze the speed of mean reversion (k) in the convenience yield and the spot price volatility for 7 US commodities between 1989-2012. In the hog market k is large, soybeans exhibit the lowest values. While for 5 of 7 commodities κ is lower in the more recent period (2005-2012) than in the...

Agri-environmental measures are often not as accepted among farmers as expected. The present study investigates whether changes in income risks and the individual risk attitudes of farmers may constitute an explanatory approach for the low acceptance of the measures. For this purpose, a...