We study how aversion to risk and ambiguity affects the adoption of new technologies by Ghanaian smallholder aquafarmers. We conduct a set of field experiments designed to elicit farmers' risk and ambiguity preferences and combine it with surveybased information on their technology adoption...

This paper investigates the relationship between risk aversion, crop diversification, and food security. In poor agrarian countries, farmers’ risk aversions are inherently linked to their food security. However, there is a lack of empirical evidence to understand the mechanism through which...

Within the context of expected utility and in a discrete loss setting, we provide a complete account of the demand for insurance by strictly-risk averse agents and risk-neutral firms when they enjoy limited liability. When exposed to a bankrupting, binary loss and under actuarially fair prices,...