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Effects of Endogenous Task Complexity and the Endowed Bundle on Stated Choice
Hu, Wuyang - Agricultural and Applied Economics Association - AAEA - 2006
Conventionally, studies examining the impacts of choice complexity only consider complexity introduced exogenously from … the tasks respondents face. In the context of a stated conjoint survey, this article establishes endogenous complexity … measures through decision-makers' experience known as the endowed bundle before the survey. Results show that complexity should …
Persistent link: https://www.econbiz.de/10005060308
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Animal Disease Related Pre-event Investment and Post-event Compensation: A Multi-agent Problem
Jin, Yanhong H.; McCarl, Bruce A. - Agricultural and Applied Economics Association - AAEA - 2006
We employ a game-theoretic principal agent framework to analyze the individual farmer and governmental behavior pre- and post-animal disease outbreak. We examine the gap between the privately optimal and socially optimal levels of ex ante biosecurity investment and then investigate how a...
Persistent link: https://www.econbiz.de/10005330126
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Risk management on application of minimum-cost feed ration for nitrogen and phosphorus reduction on dairy farm
Salim, Juma K.; Dillon, Carl R.; McAllister, Jack - Agricultural and Applied Economics Association - AAEA - 2006
The traditional mathematical programming model with the objective function of feed ration cost minimization is used to accommodate risk management responses to price variability associated with feeding a particular feed ration over time. The model incorporated biophysical simulation data using...
Persistent link: https://www.econbiz.de/10005330150
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Factors Affecting Crop Insurance Purchase Decisions in Northern Illinois
Ginder, Matthew G.; Spaulding, Aslihan D. - Agricultural and Applied Economics Association - AAEA - 2006
When making crop insurance purchase decisions, farmers must consider multiple factors. This paper examines such factors through the use of a survey conducted in a 42 county region of Northern Illinois during 2005. Participants were asked who most influenced their crop insurance purchase decision...
Persistent link: https://www.econbiz.de/10005330157
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Group versus Individual Preferences for Risk: An Experimental Analysis of the Effect of Group Composition
Brady, Michael P.; Roe, Brian E.; Wu, Steven Y. - Agricultural and Applied Economics Association - AAEA - 2006
Greater attention has been paid to understanding differences between individual and group decision-making in economics in recent years. While great strides have been made in understanding the relative cognitive ability of each, differences in preferences are less well understood. This study...
Persistent link: https://www.econbiz.de/10005330158
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A Theoretical Analysis of Economic Impacts of Export Credit Insurance and Guarantees
Rienstra-Munnicha, Paul; Turvey, Calum G.; Koo, Won W. - Agricultural and Applied Economics Association - AAEA - 2006
This paper developed an economic framework to analyze the economic impacts of an ECP on trade flows within the context of a partial equilibrium approach which assumes that non-payment risks are distinct between selling at home and abroad based on difficulties and expense in recovering...
Persistent link: https://www.econbiz.de/10005330167
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Transition to Organic Cropping Systems under Risk
Archer, David W.; Kludze, Hillarius - Agricultural and Applied Economics Association - AAEA - 2006
We analyze the risks, returns and optimal adoption strategies for a representative Minnesota farm switching from conventional to organic cropping systems. The EPIC simulation model was calibrated based on the yields observed in a farming systems field study. A farm-level simulation model was...
Persistent link: https://www.econbiz.de/10005804873
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Inequities in Flood Management Protection Outcomes
Sarmiento, Camilo; Miller, Ted E. - Agricultural and Applied Economics Association - AAEA - 2006
Knowledge of low-income issues in floodplain management is spotty. Repeated flooding resulting from hurricanes striking North Carolina, and most recently Hurricanes Katrina and Rita, has raised concerns that vulnerable low-income communities may be more exposed to the devastating costs of...
Persistent link: https://www.econbiz.de/10005804891
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A Spatial Approach to Addressing Weather Derivative Basis Risk: A Drought Insurance Example
Paulson, Nicholas D.; Hart, Chad E. - Agricultural and Applied Economics Association - AAEA - 2006
Persistent link: https://www.econbiz.de/10005804915
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Weather derivatives as an instrument to hedge against the risk of high energy cost in greenhouse production
Berg, Ernst; Schmitz, Bernhard; Starp, Michael - Agricultural and Applied Economics Association - AAEA - 2006
In many areas agriculture is exposed to weather-related risks. Weather derivatives that get more and more in the focus of interest can reduce these risks. In this study we develop a temperature based weather derivative and analyse how it can reduce the weather-related energy cost risk in...
Persistent link: https://www.econbiz.de/10005804919