Irrigation water management under risk: An application to Cyprus

Ben Groom, Phoebe Koundouri (), Celine Nauges and Alban Thomas

No 306, DEOS Working Papers from Athens University of Economics and Business

Abstract: We provide empirical evidence that attitude towards risk is important when assessing the impact of conservation policies on production choices. We rst follow the approach used by Antle (1987) which enables exible estimation of the stochastic technology without ad hoc spec- i cation of risk preferences. In a second step, the impact of water quotas on farmer decisions can be solved, using risk aversion and technology parameter estimates. Application is made on a farm-level data-set from the agricultural region of Kiti in Cyprus.

Date: 2003-12-30
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