Risk preferences under heterogeneous environmental risk
Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere
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Lüneburg: Institut für Volkswirtschaftslehre der Universität Lüneburg, 2011. (Working Paper Series in Economics; Nr. 208).
Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere
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TY - UNPB
T1 - Risk preferences under heterogeneous environmental risk
AU - Olbrich, Roland
AU - Quaas, Martin F.
AU - Haensler, Andreas
AU - Baumgärtner, Stefan
PY - 2011
Y1 - 2011
N2 - We study risk preferences and their determinants for commercial cattle farmers in Namibia who are subject to high and heterogeneous precipitation risk, using data from questionnaire and field experiments, simulated data for on-farm precipitation risk and data on famers’ previous place of residence. We find that the relationship between risk preferences and precipitation risk is contingent on early-life experience with this risk. We also find that adult farmers self-select themselves onto farms according to their risk preferences. Results are not confounded by background risks or liquidity constraint.
AB - We study risk preferences and their determinants for commercial cattle farmers in Namibia who are subject to high and heterogeneous precipitation risk, using data from questionnaire and field experiments, simulated data for on-farm precipitation risk and data on famers’ previous place of residence. We find that the relationship between risk preferences and precipitation risk is contingent on early-life experience with this risk. We also find that adult farmers self-select themselves onto farms according to their risk preferences. Results are not confounded by background risks or liquidity constraint.
KW - Economics
KW - risk preferences
KW - environmental risk
KW - experimental elicitation
KW - endogenous preferences
KW - self-selection
KW - field experiment
KW - risk preferences
KW - environmental risk
KW - experimental elicitation
KW - endogenous preferences
KW - self-selection
KW - field experiment
KW - Gender and Diversity
KW - risk preferences
KW - environmental risk
KW - experimental elicitation
KW - endogenous preferences
KW - self-selection
KW - field experiment
M3 - Working papers
T3 - Working Paper Series in Economics
BT - Risk preferences under heterogeneous environmental risk
PB - Institut für Volkswirtschaftslehre der Universität Lüneburg
CY - Lüneburg
ER -