Risk attitudes are relevant factors affecting production, management and investment
decisions at the farm level. They are key factors related to farmers’ attitudes towards the environment
and climate change. Several methodological approaches, which were considered to be preferable
for measuring the level of risk of an economic agent, ranging from highly risk-tolerant to highly
risk-averse attitudes, are available. The Multiple Price List (MPL) method is one of the stated
approaches that is gaining relevance. In this study, we apply the MPL and relate the risk outcomes
to farmers’ socio-economic characteristics and their perceptions of the environment and climate
change. Data were collected using a face-to-face survey, carried out with a group of 370 farmers of
an irrigation district, located in the northwest of Mexico. The results showed a risk level of about
0.32, according to the Constant Relative Risk Aversion (CRRA) coefficient, locating farmers of the
region in a risk-averse group. The heterogeneity analysis showed that the socioeconomic factors
and the perceptions of climate change are related to the farmers´ stated risk level. Farmers who are
young women, with a tendency to use public support for structural investment, were shown to be
risk-tolerant. Farmers considered floods, hail, diseases, pests, and weed growth incidences to be the
most frequent weather patterns in the region.info:eu-repo/semantics/publishedVersio
