DEVELOPING A SCALE FOR ASSESSING RISK ATTITUDES OF AGRICULTURAL DECISION MAKERS

Sharon K. Bard and Peter J. Barry

International Food and Agribusiness Management Review, 2000, vol. 03, issue 01, 17

Abstract: This study adapts a methodology formulated in the social sciences to develop a scale for measuring an economic agent's attitude toward risk. The scale assesses risk attitudes by eliciting farmers' opinions towards risk management tools using a Likert procedure. The methodology validates the scale with a scientific risk attitude measure and compares the scale to the farmers' self-assessment of their risk attitudes. The resulting scale methodology could be administered to people without the need for personal interviews. The subjects for this study were Midwestern farmers, but the methodology can be applied to any sector of the agricultural industry.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:ifaamr:34573

DOI: 10.22004/ag.econ.34573

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