Producer Preferences for Contracts on a Risky Bioenergy Crop
Kwabena Krah (),
Daniel Petrolia (),
Keith Coble (),
Ardian Harri and
Applied Economic Perspectives and Policy, 2018, vol. 40, issue 2, 240-258
We employ a choice experiment to examine producer preferences for contracts to produce a risky bioenergy crop. We develop a framework accounting for subjective risk preferences and perceptions, and heterogeneous status-quo alternatives. Results indicate that price, biorefinery harvest, and establishment cost-share have significant positive effects, whereas contract length has a negative effect. We also find evidence of significant heterogeneity in preferences for biorefinery harvest, yield insurance, and contract length. Incorporating subjective risk perception and risk preference information, as well as accounting for heterogeneous status quo alternatives improves overall model performance.
Keywords: choice experiment; contract; preference heterogeneity; random parameters logit; risk perceptions; risk preferences; willingness to accept compensation (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
Working Paper: Producer preferences for contracts on a risky bioenergy crop (2015)
Working Paper: Producer Preferences for Contracts on a Risky Bioenergy Crop (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:oup:apecpp:v:40:y:2018:i:2:p:240-258.
Ordering information: This journal article can be ordered from
Access Statistics for this article
Applied Economic Perspectives and Policy is currently edited by Timothy Park, Tomislav Vukina and Ian Sheldon
More articles in Applied Economic Perspectives and Policy from Agricultural and Applied Economics Association Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ( this e-mail address is bad, please contact ) and Christopher F. Baum ().