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...

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...

This paper presents the first empirical evidence on farm household risk balancing behavior, i.e., making strategic off-farm decisions in response to changes in expected business risk. Firstly, using survey data combined with Flemish FADN data, we construct a psychometric household risk balancing...

This paper presents the first empirical evidence on household risk balancing behavior, i.e., strategic off-farm decisions in response to changes in expected business risk. Using Swiss FADN data, we estimate a fixed effects seemingly unrelated regression model to analyze how farm households...