Risk Preferences Under Heterogeneous Environmental Risk
Copyright policy )Risk Preferences Under Heterogeneous Environmental Risk
We study risk preferences and their determinants for commercial cattle farmers in Namibia who are subject to high and heterogeneous precipitation risk, using data from questionnaire and field experiments, simulated data for on-farm precipitation risk and data on famers’ previous place of residence. We find that the relationship between risk preferences and precipitation risk is contingent on early-life experience with this risk. We also find that adult farmers self-select themselves onto farms according to their risk preferences. Results are not confounded by background risks or liquidity constraint.
- Institute of Economics Russian Federation
- Max Planck Society Germany
- University of Freiburg Germany
- Leuphana Universtät Lüneberg
- Chinese Academy of Social Sciences China (People's Republic of)
/dk/atira/pure/core/keywords/557389186; name=Economics, self-selection, Bodenbelastung, environmental risk, risk preferences, Environmental Risk, Risk Preference, /dk/atira/pure/sustainabledevelopmentgoals/climate_action; name=SDG 13 - Climate Action, Landwirte, /dk/atira/pure/core/keywords/558391192; name=Sustainability sciences, Management & Economics, experimental elicitation, ddc:330, 330 Wirtschaft, endogenous preferences, Risikopräferenz, Experimental Elicitation, Q12, Namibia, Q57, Rinderhaltung, D81, field experiment, Weidewirtschaft, /dk/atira/pure/core/keywords/gender_and diversity; name=Gender and Diversity, risk preferences, environmental risk, experimental elicitation, endogenous preferences, self-selection, field experiment, Nachhaltigkeitsökonomie, jel: jel:D81, jel: jel:Q57, jel: jel:Q12
/dk/atira/pure/core/keywords/557389186; name=Economics, self-selection, Bodenbelastung, environmental risk, risk preferences, Environmental Risk, Risk Preference, /dk/atira/pure/sustainabledevelopmentgoals/climate_action; name=SDG 13 - Climate Action, Landwirte, /dk/atira/pure/core/keywords/558391192; name=Sustainability sciences, Management & Economics, experimental elicitation, ddc:330, 330 Wirtschaft, endogenous preferences, Risikopräferenz, Experimental Elicitation, Q12, Namibia, Q57, Rinderhaltung, D81, field experiment, Weidewirtschaft, /dk/atira/pure/core/keywords/gender_and diversity; name=Gender and Diversity, risk preferences, environmental risk, experimental elicitation, endogenous preferences, self-selection, field experiment, Nachhaltigkeitsökonomie, jel: jel:D81, jel: jel:Q57, jel: jel:Q12
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