Management of Multiple Sources of Risk in Livestock Production

Melissa G. S. McKendree, Glynn Tonsor and Lee Schulz

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: Firm operators continually manage multiple sources of risk. In an application to cattle feedlot operations, our objective is to determine if producers view output price and animal health risks separately or jointly. We conduct a survey with a choice experiment placing operators in forward looking, decision-making scenarios, and capture information on past risk management approaches. Evidence regarding a relationship between animal health and output price risk mitigation is mixed and depends on the decision being made. Combined, these results provide new insight into how managers approach multiple risks when facing resource constraints.

Date: 2021-01-01
New Economics Papers: this item is included in nep-rmg
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Citations: View citations in EconPapers (4)

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Journal Article: Management of Multiple Sources of Risk in Livestock Production (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genstf:202101010800001793

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