Estimation of farmers' risk attitude: an econometric approach

Z. Bar‐Shira, Richard Just and David Zilberman

Agricultural Economics, 1997, vol. 17, issue 2-3, 211-222

Abstract: An econometric procedure for estimating Arrow‐Pratt coefficients of risk aversion is derived. The model of farmers allocating land among different crops, and time between leisure and labor, allows for testing Arrow's hypotheses of decreasing absolute risk aversion and increasing relative risk aversion. The empirical results support these hypotheses.

Date: 1997
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https://doi.org/10.1111/j.1574-0862.1997.tb00475.x

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Journal Article: Estimation of farmers' risk attitude: an econometric approach (1997)
Working Paper: Estimation of Farmers' Risk Attitude: An Econometric Approach (1994)
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