Showing 1 - 10 of 29
Researchers employ various measures of risk attitudes to investigate their relation to market behavior with mixed results. We find that a higher-order global risk attitude construct, developed using survey scales and experiments based on expected utility theory, is related to several marketing...
Persistent link: https://www.econbiz.de/10010916377
Crop producers have numerous marketing and risk management tools available. Research relating producers’ risk attitudes to their use of these tools has produced mixed results, and most studies focus on individual tools to the neglect of complementarities among them. Hence, little is known...
Persistent link: https://www.econbiz.de/10005000491
The storage at a loss paradox - inventories despite an inadequate spot-futures price spread to cover storage costs - is an unresolved issue of long-standing interest to economists. Alternative explanations include risk premiums for futures market speculators, convenience yields from holding...
Persistent link: https://www.econbiz.de/10005060328
Producers have a wide variety of risk management instruments available. How do producers make a choice of risk management instruments? Using the recently developed choice bracketing framework, we examine what risk management strategies producers use and identify the factors that drive their risk...
Persistent link: https://www.econbiz.de/10009442889
The validity of the utility concept, particularly in an expected utility framework, has been questioned because of its inability to predict revealed behavior. In this paper we focus on the global shape of the utility function instead of the local shape of the utility function. We examine the...
Persistent link: https://www.econbiz.de/10009443572
Heterogeneity, i.e., the notion that individuals respond differently to economic stimuli, can have profound consequences for the interpretation of behavior and the formulation of agricultural policy. This paper compares and evaluates three grouping techniques that can be used to account for...
Persistent link: https://www.econbiz.de/10009446188
Using survey data from 258 Illinois corn farmers, we investigate the relationship between subjective and objective yield measures and their effect on the use of crop insurance. Our findings show that producers view themselves as better than average with respect to yields and in terms of their...
Persistent link: https://www.econbiz.de/10005525171
The validity of the utility concept, particularly in an expected utility framework, has been questioned because of its inability to predict revealed behavior. In this paper we focus on the global shape of the utility function instead of the local shape of the utility function. We examine the...
Persistent link: https://www.econbiz.de/10005536121
Producers have a wide variety of risk management instruments available. How do producers make a choice of risk management instruments? Using the recently developed choice bracketing framework, we examine what risk management strategies producers use and identify the factors that drive their risk...
Persistent link: https://www.econbiz.de/10005803404
Heterogeneity, i.e., the notion that individuals respond differently to economic stimuli, can have profound consequences for the interpretation of behavior and the formulation of agricultural policy. This paper compares and evaluates three grouping techniques that can be used to account for...
Persistent link: https://www.econbiz.de/10009326215