Preference for Risk Management Information Sources: Implications for Extension and Outreach Programming

Roderick Rejesus, Thomas O. Knight, Mauricio Jaramillo, Keith Coble, George F. Patrick and Alan Baquet

Agricultural and Resource Economics Review, 2008, vol. 37, issue 1, 106-116

Abstract: This article examines farmers’ preferences for various risk management information sources. Our results suggest that information from risk management experts, in-depth materials studied on their own, and popular press outlets tend to be preferred and are ranked highly by producers. Using a regression model to investigate farmer/farm attributes that affect preference for a particular risk management information source, we find that younger farmers with college education, higher leverage, assets greater than $1 million, risk-loving attitudes, and who have used professional services (marketing consultants) tend to prefer information from risk management experts, the Internet, and marketing clubs/other producers. On the other hand, producers who prefer self-study of educational materials and popular press information sources tend to be younger, with lower leverage levels, and have used fewer professional services.

Date: 2008
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