How can allocative inefficiency reveal risk preference? An empirical investigation on French wheat farms

Stéphane Blancard (), Jean-Philippe Boussemart, David Crainich and Hervé Leleu

No 2008-ECO-02, Working Papers from IESEG School of Management

Abstract: We focus on a simple framework on wheat producer behaviour in a context of price output uncertainty. More precisely, we establish a relationship between ex post output price level and allocative inefficiency that allows to characterize farmers’ risk preferences. Given this analysis, the connection between risk aversion and other socioeconomic variables (such as degree of output specialisation, total asset, debts, farmer’s age…) can furthermore empirically be explored. This relationship is empirically tested on an unbalanced panel including about 650 wheat producers located in the French Department of Meuse over 1992-2003.

Keywords: producer behaviour; price uncertainty; allocative inefficiency; risk aversion; agriculture (search for similar items in EconPapers)
JEL-codes: D21 D61 D81 Q12 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2008-05
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Working Paper: How can allocative inefficiency reveal risk preference? An empirical investigation on French wheat farms (2008)
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