谁是厌恶损失的农民?从结构上估计风险偏好的实验证据

IF 3.3 2区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY European Review of Agricultural Economics Pub Date : 2022-09-30 DOI:10.1093/erae/jbac020
I. Bonjean
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引用次数: 3

摘要

尽管人们认识到这一点越来越重要,但对欧洲农民风险偏好的有力估计仍然很少。本文在没有学习偏见的情况下,利用激励实验室对农民进行的田间试验,基于累积前景理论分析了风险偏好的结构推导参数。所研究的行业是比利时佛兰德斯的苹果和梨行业。农民被发现高度厌恶风险,并通过高估理想结果的小概率来扭曲概率。然而,与之前的研究不同,没有证据表明平均而言厌恶损失。此外,对异质效应的调查表明,一些农民与代表代理人存在显著差异,仍然极度厌恶损失。这项研究的结果证明,在评估农民的风险偏好时,有必要考虑部门内部和部门之间的异质性。
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Who are the loss-averse farmers? Experimental evidence from structurally estimated risk preferences
Even though recognised to be of increasing importance, robust estimations of European farmers’ risk preferences are still scarce. Using an incentivised lab-in-the-field experiment with farmers, free of learning bias, this paper analyses the structurally derived parameters of risk preferences based on the cumulative prospect theory. The sector studied is the apple and pear sector in Flanders, Belgium. Farmers are found to be highly risk-averse and to distort probabilities by overweighting a small probability of desirable outcomes. However, there is no evidence of loss aversion on average, unlike previous studies. Moreover, investigating the heterogeneous effects shows that some farmers significantly differ from the representative agent by still being extremely loss-averse. The results of this piece of research prove the need to consider heterogeneity within and across sectors when assessing farmers’ risk preferences.
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来源期刊
European Review of Agricultural Economics
European Review of Agricultural Economics 管理科学-农业经济与政策
CiteScore
6.60
自引率
5.90%
发文量
25
审稿时长
>24 weeks
期刊介绍: The European Review of Agricultural Economics serves as a forum for innovative theoretical and applied agricultural economics research. The ERAE strives for balanced coverage of economic issues within the broad subject matter of agricultural and food production, consumption and trade, rural development, and resource use and conservation. Topics of specific interest include multiple roles of agriculture; trade and development; industrial organisation of the food sector; institutional dynamics; consumer behaviour; sustainable resource use; bioenergy; agricultural, agri-environmental and rural policy; specific European issues. Methodological articles are welcome. All published papers are at least double peer reviewed and must show originality and innovation. The ERAE also publishes book reviews.
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