Learning by Doing, Risk Aversion and Use of Risk Management Strategies

Abstract

Using a national survey, double hurdle models are estimated to examine the impact of farmers’ risk attitude on use of production and marketing contracts. Risk averse farmers are less likely to use contracts but risk attitude does not have any significant impact on the intensity at which contracts are adopted.Risk attitude, Double hurdle model, production contracts, marketing contracts, Agribusiness, Crop Production/Industries, Farm Management, Livestock Production/Industries, Marketing, Risk and Uncertainty, Q10, Q13, D81,