We focus on a simple framework on wheat
producer behaviour in a context of price output
uncertainty. More precisely, we establish a relationship
between ex post output price level and allocative
inefficiency that allows to characterize farmers’ risk
preferences. Given this analysis, the connection between
risk aversion and other socioeconomic variables (such as
degree of output specialisation, total asset, debts,
farmer’s age…) can furthermore empirically be
explored. This relationship is empirically tested on an
unbalanced panel including about 650 wheat producers
located in the French Department of Meuse over 1992-
2003
