Risk and Planning in Agriculture: How Planning on Dairy Farms in Ireland Is Affected by Farmers’ Regulatory Focus

John Garvey, Gordon Sirr, Deirdre O'Shea and Fergal O'Brien

Risk Analysis, 2019, vol. 39, issue 7, 1491-1502

Abstract: This article examines how planning on dairy farms is affected by farmers' motivation. It argues that farmers' choice of expansion strategies can be specified in terms of risk decision making and understood as either prevention‐focused or promotion‐focused motivation. This relationship was empirically examined using mediated regression analyses where promotion/prevention focus was the independent variable and its effect on total milk production via planned expansion strategies was examined. The results indicate that promotion focus among farmers has an indirect effect on farm expansion via planning strategies that incur greater risk to the farm enterprise. Regulatory focus on the part of farmers has an influence on farmers' planning and risk management activities and must be accounted for in the design and implementation of policy and risk management tools in agriculture.

Date: 2019
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https://doi.org/10.1111/risa.13254

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Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:39:y:2019:i:7:p:1491-1502

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