Although the benefits of genetically modified (GM) crops have been well documented, how do farmers manage the risk of new technology in the early stages of technology adoption has received less attention. We compare the total factor productivity (TFP) of cotton to other major crops (wheat, rice,...

This paper explores the impact of risk preference as well as interlinked credit and insurance contract on peasants' new technology adoption. The results show that (1) risk preference has a significant impact on peasants' adoption of innovative seeds, and the influence of exact probabilistic risk...