EconPapers    
Economics at your fingertips  
 

Risk attitudes and the structure of decision†making: evidence from the Illinois hog industry

Jason R.V. Franken, Joost M.E. Pennings and Philip Garcia

Agricultural Economics, 2017, vol. 48, issue 1, 41-50

Abstract: Research offers mixed evidence about the risk management decision†making process of producers. Whether producers’ characteristics drive behavior directly or through risk attitude remains a puzzle. We assess whether managerial/firm characteristics directly affect choices or if their influence occurs indirectly through impacts on risk attitude. The findings, which support indirect effects, indicate that failure to represent relationships between risk attitude, other characteristics, and behavior appropriately can mask the effect of risk attitude. A more complete understanding of the structure of decision†making may assist economists, policymakers, and industry stakeholders in designing and targeting mechanisms to manage or transfer risk.

Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
https://doi.org/10.1111/agec.12293

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:agecon:v:48:y:2017:i:1:p:41-50

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0169-5150

Access Statistics for this article

Agricultural Economics is currently edited by W.A. Masters and G.E. Shively

More articles in Agricultural Economics from International Association of Agricultural Economists Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

 
Page updated 2019-03-31
Handle: RePEc:bla:agecon:v:48:y:2017:i:1:p:41-50