The Role of Farmers' Behavioral Attitudes and Heterogeneity in Futures Contracts Usage

Pennings, J.M.E.; Leuthold, Raymond M.

doi:10.1111/0002-9092.00090

Cited by 127 publications

(83 citation statements)

References 42 publications

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“…This problem was discussed, among others, by Pennings and Leuthold (2000). Farmers' risk perception was studied by several other authors, and most of them concentrated on identifying the risk factors that were seen by farmers as the most important.…”

Section: Risk Perception and Risk Aversion Among Farmersmentioning

confidence: 99%

Farmers’ risk perception, risk aversion and strategies to cope with production risk: an empirical study from Poland

Sulewski¹,

Kłoczko-Gajewska²

2014

stagec

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Agriculture is an activity burdened with multiple risk factors, some of which are related to the biological nature of production. Climate change, liberalisation of international agricultural trade and changes in the agricultural support system mean that the importance of risk in agriculture will increase. This means that increasing attention will be given to risk management at the farm level, although implementation of the appropriate risk management strategy is connected to farmers' perception of, and aversion to, risk. This study, which integrates these three aspects of risk in agriculture, is based on data collected from almost 600 participant farms from the Polish FADN system. It was shown that drought is perceived by farmers as the main factor of risk in production in Poland. Polish farmers are rather risk averse, but a little more in terms of their personal health and less in the case of the farm. The analysis showed that the following factors increased the level of risk aversion of Polish farmers: debt ratio, losses in production in previous years, soil quality and concentration on fi nancial independence as a hierarchy of priorities. The most important risk-coping strategy was crop insurance. Knowledge of farmers' perception of risk, risk aversion and preferred risk management strategies is essential for creating policy instruments to support agricultural risk management, and for the development of training programmes tailored to the needs of farmers.

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Section: Risk Perception and Risk Aversion Among Farmersmentioning

confidence: 99%

Farmers’ risk perception, risk aversion and strategies to cope with production risk: an empirical study from Poland

Sulewski¹,

Kłoczko-Gajewska²

2014

stagec

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“…From this point onwards, we will think of cooperation as refraining from illegal harvesting of wildlife. Following McCarthy et al (2002) and Pennings and Leuthold (2000), cooperation is assumed to be a latent variable. Factor analysis of variables thought to be associated with cooperative capacity is employed in order to recover the latent variable.…”

Section: Model 1: Participation In Wildlife Conservationmentioning

confidence: 99%

The role of institutions in community wildlife conservation in Zimbabwe

Ntuli¹,

Muchapondwa²

2018

Int J Commons

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Abstract:Institutions play a significant role in stabilising large-scale cooperation in common pool resource management. Without restrictions to govern human behaviour, most natural resources are vulnerable to overexploitation. This study used a sample size of 336 households and community-level data from 30 communities around Gonarezhou National Park in Zimbabwe, to analyse the relationship between institutions and biodiversity outcomes in community-based wildlife conservation. Our results suggest a much stronger effect of institutions on biodiversity outcomes via the intermediacy of cooperation. Overall, the performance of most communities was below the desired level of institutional attributes that matter for conservation. Good institutions are an important ingredient for cooperation in the respective communities. Disaggregating the metric measure of institutions into its components shows that governance, monitoring and enforcement are more important for increased cooperation, while fairness of institutions seems to work against cooperation. Cooperation increases with trust and group size, and is also higher in communities that have endogenised punishment as opposed to communities that still rely on external enforcement of rules and regulations. Cooperation declines as we move from communal areas into the resettlement schemes and with increasing size of the resource system. A very strong positive relationship exists between cooperation and biodiversity outcomes implying that communities with elevated levels of cooperation are associated with a healthy wildlife population. Biodiversity outcomes are more successful in communities that either received wildlife management training, share information or those that are located far awayThe role of institutions in community wildlife conservation in Zimbabwe 135 from urban areas and are not very close to the boundary of the game park. Erecting an electric fence, the household head's age, the number of years in school and number of years living in the area negatively affect biodiversity outcomes. One policy implication of this study is to increase autonomy in CAMPFIRE communities so that they are able to invest in good institutions, which allows them to self-organise and to manage wildlife sustainably.

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“…There are many studies, which point out the fact that the effective risk management depends on the behavioral factors, on the attitudes of the managers to the risks, thus on the inclination or aversion to the risk and also on its perception. Pennings and Leuthold (2000), Bard and Barry (2000), Borges and Machado (2012), Picazo-Tadeo and Wall (2010) point out that the right perception of the risk and the attitude to it are the necessary prerequisites of the effective risk strategy choice. The attitude and the perception of the risk depend on the manager and of course on the situation, in which the manager is and on the conditions, in which the manager acts.…”

Section: Doi: 1017221/212/2016-agriceconmentioning

confidence: 99%

Risk factors in the agriculture sector

Jankelová¹,

Masar²,

Moricova³

2017

Agric. Econ. - Czech

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Slovakia has the character of a countryside state. It is unique by that despite of the worldwide tendency, Slovak citizens are migrating from the cities to the countryside. It is the second most countryside state of the EU, with more than one half of the population living in the rural areas. Even higher is the share of the rural area of Slovakia. In the complex, as well as structured evaluation of the agricultural performance of the Slovak Republic within the EU, Slovakia belongs to the weakest countries. Our current agriculture is struggling to cope with the organizational and legal issues, it seeks to bring into operation the land market, to supply the internal market by the quality and affordable goods. Necessarily, it must increase the productivity, recover the production capacity of the land resources and constitute viable units. Those could compete with other entities, respectively, they could be an adequate partner in the EU in the framework of subsidies.The farmers, in order to improve their position, must fight not only with the external factors of the environment, but also with many issues of the internal management of the enterprises. The overriding objective must become the orientation on the strategic management of the enterprises, while their effort is often focused on the survival because of the significant issues and the agrarian enterprises lack the coherent vision of the certainty of their future development. The part of the strategic management is also the risk management. The ability of an early detection and effective management of the risks is an integral part of the strategic management of every agricultural organization. Subjects, which are not aware of the scope and the strength of the impact of risk, and will not create the effective mechanism for its management, are endangering their existence. The effective risk management can be secured only in the case, when there is a clearly defined strategy of the Abstract: Th e agricultural sector je characterized by the fact that there is a high level of risk. It was always this case, but in the last years, there is a tendency of the increasing of the risk. Th e ability of early detection and eff ective management of the risks is an integral part of the strategic management of every agricultural organization. Th e paper presents the procedure and outcomes of the questionnaire survey aimed at the occurrence of the risk factors and approaches to the risk management in the enterprises of the primary agricultural production in Slovakia. Th e survey is focused on the individual character of the risk. Th e results of the survey point out the fact, that Slovakian farmers perceive the price risk, production or income risk as the most important risk factors, and the diversifi cation as a most important strategy of the risk management. Th e most signifi cant positive correlations were found between the land size and the perception of the price risk importance, between the number of years in offi ce and the perception of the price risk importance. Concer...

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The Role of Farmers' Behavioral Attitudes and Heterogeneity in Futures Contracts Usage

Cited by 127 publications

References 42 publications

Farmers’ risk perception, risk aversion and strategies to cope with production risk: an empirical study from Poland

Farmers’ risk perception, risk aversion and strategies to cope with production risk: an empirical study from Poland

The role of institutions in community wildlife conservation in Zimbabwe

Risk factors in the agriculture sector

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