Understanding producers’ motives to adopt sustainable practices: the role of expected rewards, risk perception, and risk tolerance

Dianne Hofenk, Joost Pennings and Andres Trujillo-Barrera

No 182740, 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia from European Association of Agricultural Economists

Abstract: The purpose of this study is to examine producers’ motives underlying the adoption of sustainable practices. In particular, we focus on expected economic, social, and personal rewards, and examine the roles of producers’ risk perception and risk tolerance. Preliminary results from a survey of 164 hog producers show that the adoption of sustainable practices is affected by expected economic rewards, but not by social and personal rewards. Furthermore, perceived risk is a major barrier to the adoption of sustainable practices and risk tolerance strengthens the effect of expected economic rewards on the probability to adopt sustainable practices.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Pages: 8
Date: 2014-08
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaae14:182740

DOI: 10.22004/ag.econ.182740

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