As with other technologies, adoption of Bt seed requires technology specific knowledge. Growing secondary pest populations have slowly eroded the benefits of Bt technology in China. We illustrate the effects of introducing Bt technology among farmers with an imperfect knowledge of secondary pest...

Economists attribute many common behaviors to risk aversion and frequently focus on how wealth moderates risk preferences. This paper highlights a problem associated with empirical tests of the relationship between wealth and risk aversion that can arise when the probabilities individuals face...