This paper reports on the increased volatility in the milk price received by Flemish dairyfarmers and its consequence on the risk profile of selected Flemish dairy farms. Thevolatility of the milk price has doubled since January 2007. It is suggested that thisincreasing volatility could have a...

Modeling the farm level impact of risk management programs, policies and instruments is traditionally been done on a farm-level basis. Hence, farm simulation models typically use the behavioural assumption of profit or utility maximization is risk aversion taken into account. However, abundant...

This paper reports on the increased volatility in the milk price received by Flemish dairy farmers and its consequence on the risk profile of selected Flemish dairy farms. The volatility of the milk price has doubled since January 2007. It is suggested that this increasing volatility could have...

Although risk management in farming is a well-documented subject in scientific literature, this same literature is usually used only by other scientist and is not aiding individual farmers in their management. Risk perception and risk attitude are well described determinants of risk behaviour...

Assumptions on the perceptions of risks, made in agricultural economics literature, are recognized to be over-simplistic. For example most studies assume that risks are independent and static, while in reality most risks are interlinked and dynamic. We propose an alternative method to identify...