This study investigates risk and time preferences of small-scale cattle farmers in West Africa and examines how demographic and socio-economic characteristics are related to these preferences. Using a maximum likelihood approach we jointly estimate risk and time preferences. Our findings show...

Replaced with revised version of paper 07/29/09.

Ex-post evaluation of agricultural research is aimed to empirically provide evidence of past investments’ effectiveness. This paper is intended to measure the immediate impact of livestock research activities on cattle farmers’ knowledge about trypanosomosis and its therapeutic and...

This study investigates risk and time preferences of small-holder cattle farmers in West Africa. We apply a discounted utility model and jointly estimate a prospect theory-based utility function and a quasi-hyperbolic discounting function using a maximum likelihood method. Results show that West...

International agricultural research often uses quasi-experimental designs when implementing on-farm research and development activities. Therefore, impact assessment methodologies are needed, which are effective in circumventing the resulting selection bias inherent in such research designs....

Empirical studies advocating the temporal variability of risk attitudes suggest that adverse covariate shocks significantly alter risk attitudes over time, but there is no consensus on the direction. In this paper, we investigate whether risk aversion increases or decreases in response to...

Empirical studies advocating the temporal variability of risk attitudes suggest that adverse covariate shocks significantly alter risk attitudes over time, but there is no consensus on the direction. In this paper, we investigate whether risk aversion increases or decreases in response to...