Survey and Experimental Techniques as an Approach for Agricultural Risk Analysis

  • Brian Roe
  • Alan Randall
Chapter
Part of the Natural Resource Management and Policy book series (NRMP, volume 23)

Abstract

The ubiquity and centrality of risk in agricultural processes helps define agricultural economics as a distinct field of study. Understanding agricultural agents’ behavioral responses to risk, and the implications of these responses for market behavior and agricultural policy, has occupied a central position in agricultural economics research. Much of this research has relied upon the analysis of agents’ behavior as observed and encoded by various public data collection agencies and private researchers. Simulation and programming techniques have also broadened our understanding of risk and extended the profession’s ability to provide prescriptive analysis to both individual decision makers and policy advisors. Such techniques often rely upon the analysis of observed behavioral responses to calibrate key parameters of the underlying models. However, calibration of individual risk preferences and identification of agents’ true behavioral objectives and constraints are often difficult, if not impossible, to obtain from observed behavior.

Keywords

Risk Aversion Agricultural Economic Contingent Valuation Risk Preference Loss Aversion 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 2002

Authors and Affiliations

  • Brian Roe
    • 1
  • Alan Randall
    • 1
  1. 1.The Ohio State UniversityUSA

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