Simultaneous estimation of risk and time preferences among small-scale cattle farmers in West Africa

This study investigates risk and time preferences of small-holder cattle farmers in West Africa. We apply a discounted utility model and jointly estimate a prospect theory-based utility function and a quasi-hyperbolic discounting function using a maximum likelihood method. Results show that West African farmers are less loss-averse and are more patient than suggested by comparable studies in Asian developing countries. The main factors influencing farmers' risk and time preferences are cattle herd size and net revenue from sales of cattle products

New insights from behavioral economics in developing countries

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Risk and Time Preferences of West African Cattle Farmers

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 that, overall the West African cattle farmer shows poor performance in using probability information and is generally risk averse. The average cattle farmers’ time preferences indicate a higher degree of patience than expected. We also find that income, education, and religion are highly correlated with risk and time preferences

Assessing the impact of agricultural research on farmer's knowledge about African animal trypanosomosis : An application of the propensity score matching approach

Ex-post evaluation of agricultural research is aimed to empirically provide evidence of past investments’ effectiveness. This paper is intended to measure the immediate impact of livestock research activities on cattle farmers’ knowledge about trypanosomosis and its therapeutic and preventive control strategies. According to the quasi-experimental design of the intervention, it is shown that its impact will be adequately estimated by propensity score matching (PSM). Based on data collected according to a knowledge, attitude and practice (KAP) questionnaire in the region of Kénédougou that is common to Mali and Burkina Faso, results indicate a significant gain in farmers’ know-how due to participation in livestock research activities

Impact assessment of agricultural research in West Africa: an application of the propensity score matching methodology

Ex-post evaluation of agricultural research is aimed to empirically provide evidence of past investments’ effectiveness. This paper is intended to measure the immediate impact of livestock research activities on cattle farmers’ knowledge about trypanosomosis and its curative and preventive control strategies. According to the quasi-experimental design of the intervention, it is shown that its impact will be adequately estimated by propensity score matching (PSM). Based on data collected according to a knowledge, attitude and practice (KAP) questionnaire in the region of Kénédougou that is common to Mali and Burkina Faso, results indicate a significant gain in farmers’ know-how due to participation in livestock research activities

Experimentally validated general risk attitude among different ethnic groups in Vietnam

In this paper, we compare experimentally measured individual risk attitudes and survey-based risk items for rural households in the province of Dak Lak in Southern Vietnam. In particular, we test whether the survey-based measure can be validated by a risk experiment among different ethnic groups. Albeit we find that ethnic minorities are on average more risk averse than the ethnic majority, our results show similar correlations between risk attitudes and socio-economic characteristics among the two ethnic groups. Testing the explanatory power of the survey-based risk item shows the validity of this measure among different ethnic groups. Our findings have potentially important implications. First, the survey-based item is effective to measure risk attitudes of a multiethnic community. Second, our findings also suggest that the assumption of a "self-reinforcing culture of poverty" which is often attributed to minority group of Vietnam should be challenged in the light of these results