Agricultural Arbitrage and Risk Preferences

A structural inter-temporal model of agricultural asset arbitrage equilibrium is developed and applied to agriculture in the North-Central region of the U.S. The data is consistent with a unifying level of risk aversion. The levels of risk aversion are more plausible than previous estimates for agriculture. However, the standard arbitrage equilibrium is rejected; perhaps this is due to the period and the shortness of the period studied.

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Year of publication:	2008-12
Authors:	LaFrance, Jeffrey ; Pope, Rulon ; Just, Richard
Institutions:	School of Economic Sciences, Washington State University
Subject:	arbitrage \| risk aversion \| agriculture

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 2009-01 38 pages
Classification:	G11 - Portfolio Choice ; Q12 - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005509710