Agricultural Arbitrage and Risk Preferences

Rulon Pope, Jeffrey Thomas LaFrance () and Richard E. Just
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Rulon Pope: Brigham Young University

No 1041, Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series from Department of Agricultural & Resource Economics, UC Berkeley

Abstract: A structural inter-temporal model of agricultural asset arbitrage equilibrium is developed and applied to agriculture in the North-Central region of the U.S. The data is consistent with unifying level of risk aversion. The levels of risk aversion are more plausible than previous estimates for agriculture. However, the standard arbitrage equilibrium is rejected; perhaps this is due to the period and the shortness of the period studied.

Date: 2007-05-24
Note: oai:cdlib1:are_ucb-1142
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Working Paper: Agricultural Arbitrage and Risk Preferences (2008)
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