Farmers' risk preferences in 11 European farming systems: A multi‐country replication of Bocquého et al. ()
Jens Rommel,
Julian Sagebiel,
Marieke Cornelia Baaken,
Jesús Barreiro‐Hurlé,
Douadia Bougherara,
Luigi Cembalo,
Marija Cerjak,
Tajana Čop,
Mikolaj Czajkowski,
María Espinosa‐Goded,
Julia Höhler,
Laure Kuhfuss,
Carl‐Johan Lagerkvist,
Margaux Lapierre,
Marianne Lefebvre,
Bettina Matzdorf,
Edward Ott,
Antonio Paparella,
Erika Quendler,
Macario Rodriguez‐Entrena,
Christoph Schulze,
Tanja Šumrada,
Annika Tensi,
Sophie Thoyer,
Marina Tomić Maksan,
Riccardo Vecchio,
Marc Willinger and
Katarzyna Zagórska
Applied Economic Perspectives and Policy, 2023, vol. 45, issue 3, 1374-1399
Abstract:
We replicate Bocquého et al. (2014), who used multiple price lists to investigate the risk preferences of 107 French farmers. We collected new data from 1430 participants in 11 European farming systems. In agreement with the original study, farmers' risk preferences are best described by Cumulative Prospect Theory. Structural model estimates show that farmers in the new samples are, on average, less loss averse and more susceptible to probability distortion than in the original study. Explorative analyses indicate differences between estimation approaches, as well as heterogeneity between and within samples. We discuss challenges in replications of economic experiments with farmers across farming contexts.
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
https://doi.org/10.1002/aepp.13330
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:wly:apecpp:v:45:y:2023:i:3:p:1374-1399
Access Statistics for this article
More articles in Applied Economic Perspectives and Policy from John Wiley & Sons
Bibliographic data for series maintained by Wiley Content Delivery ().