Articlegreen1981

AN ANALYSIS OF THE RISK AVERSION OF FARM OPERATORS: AN ASSET PORTFOLIO APPROACH

David A. Lins · Stephen C. Gabriel · Steven T. Sonka

36 citations0/0 files storedRePEc: Research Papers in Economics

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Decision-Making and Behavioral Economics Financial Literacy, Pension, Retirement Analysis Agricultural risk and resilience

Abstract

The absolute and relative risk aversion characteristics of a large sample of farm operators were estimated from the observed portfolio responses to changes in wealth. Regression estimates suggest that farm operators display decreasing absolute risk aversion. Relative risk aversion varies by type of farm. However, the definition of risky assets has an important bearing on relative risk aversion characteristics. Non-wealth variables are also important in explaining the holding of risky assets by farm operators.

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1988Prospect theory: An analysis of decision under risk 1976Risk Aversion in the Small and in the Large 1966Aspects of the Theory of Risk-Bearing.1956The Introduction of Risk into a Programming Model 1974The Measurement of Technical Change Biases with Many Factors of Production 1978Risk Attitudes of Subsistence Farmers in Northeast Brazil: A Sampling Approach 2017Literature and Revolution:1768A Sentimental Journey through France and Italy

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1983An Empirical Analysis of the Intertemporal Stability of Risk Preference 2009Calibrating the wealth effects of decoupled payments: Does decreasing absolute risk aversion matter?2003Determinants of the Strength of Strategic Adjustments in Farm Capital Structure 2009Risk Averters that Love Risk? Marginal Risk Aversion in Comparison to a Reference Gamble

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