ELICITATION OF RISK PREFERENCES FOR IRRIGATION FARMERS IN THE WINTERTON AREA: WEALTH RISK VERSUS ANNUAL INCOME RISK

J. H. F. Botes, Darrell Bosch and L. K. Oosthuizen

Agrekon, 1994, vol. 33, issue 01

Abstract: The purpose of this article is to measure the absolute risk aversion coefficients (RACs) of irrigation farmers in the Winterton area if annual income and wealth are at stake. Decision makers became more risk averse when wealth instead of annual income is at stake. RACs measured at low, medium and high annual income and wealth levels, showed no change when annual income or wealth levels increased. The majority of irrigation farmers have risk neutral annual income and wealth risk preferences.

Keywords: Resource/Energy Economics and Policy; Risk and Uncertainty (search for similar items in EconPapers)
Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:ags:agreko:267697

DOI: 10.22004/ag.econ.267697

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