Combining risk perception and risk attitude: A comprehensive individual risk behavior model

Frankwin van Winsen, Erwin Wauters, Ludwig H. Lauwers, Yann de Mey, Steven Van Passel and Mark Vancauteren

No 115749, 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland from European Association of Agricultural Economists

Abstract: Although risk management in farming is a well-documented subject in scientific literature, this same literature is usually used only by other scientist and is not aiding individual farmers in their management. Risk perception and risk attitude are well described determinants of risk behaviour but rarely combined in an integrated approach for risk behaviour research. Furthermore in most literature risk attitude is taken as a given stable personality trait on which the optimal behaviour should be based. We argue that risk attitude can be manageable in order to derive optimal risk behaviour. Based on these findings we develop a comprehensive theoretical basic model on farmers risk behaviour. Furthermore a participatory approach involving the stakeholder, the farmer, to build on this model is presented. This presented model has as final purpose of guiding research on establishing risk management tools applicable by farmers.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Pages: 12
Date: 2011-09-02
New Economics Papers: this item is included in nep-rmg and nep-upt
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaae11:115749

DOI: 10.22004/ag.econ.115749

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