Panel Data Nonparametric Estimation of Production Risk and Risk Preferences: An Application to Polish Dairy Farms

We apply nonparametric panel data kernel regression to investigate production risk, out-put price uncertainty, and risk attitudes of Polish dairy farms based on a firm-level unbalanced panel data set that covers the period 2004–2010. We compare different model specifications and different approaches for obtaining firm-specific measures of risk attitudes. We found that Polish dairy farmers are risk averse regarding production risk and price uncertainty. According to our results, Polish dairy farmers perceive the production risk as being more significant than the risk related to output price uncertainty.

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Year of publication:	2013
Authors:	Czekaj, Tomasz Gerard ; Henningsen, Arne
Publisher:	Copenhagen : University of Copenhagen, Department of Food and Resource Economics (IFRO)
Subject:	production risk \| price uncertainty \| nonparametric econometrics \| panel data \| Polish dairy farms

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Series:	IFRO Working Paper ; 2013/6
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	hdl:10419/204353 [Handle] RePEc:foi:wpaper:2013_6 [RePEc]
Classification:	C14 - Semiparametric and Nonparametric Methods ; C23 - Models with Panel Data ; D24 - Production; Capital and Total Factor Productivity; Capacity ; Q12 - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
Source:	EconStor

Persistent link: https://www.econbiz.de/10012100998