Spiegel, Alisa; Britz, Wolfgang; Finger, Robert - In: Q open : a journal of agricultural, climate, … 1 (2021) 2, pp. 1-26
Risk and risk preferences belong to the key determinants of investment-based technology adoption in agriculture. We … stochastic dynamic farm-level model to quantify the effect of both risk and risk aversion on the timing and scale of agricultural … technology adoption. Our illustrative example on short rotation coppice adoption shows that risk aversion leads to technology …