Crop Biodiversity, Risk Management and the Implications of Agricultural Assistance

Salvatore Di Falco and Charles Perrings ()
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Charles Perrings: Department of Economics, National University of Ireland, Galway

No 84, Working Papers from National University of Ireland Galway, Department of Economics

Abstract: This paper presents a theoretical and empirical analysis of the impact of financial assistance to farms on crop biodiversity in an uncertain setting. The findings reveal that risk aversion is an important driving force for crop biodiversity conservation. Risk averse farmers can hedge against the uncertainty they face by allocating land to different crop species. However, policies intended to stabilize revenues by supporting particular species may alter this link by delinking crop biodiversity from the management of revenues risk.

Date: 2004, Revised 2004
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Journal Article: Crop biodiversity, risk management and the implications of agricultural assistance (2005)
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