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A note on European ...
A note on European farmers' preferences under cumulative prospect theory
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- Rommel, Jens (författare)
- Swedish University of Agricultural Sciences,Sveriges lantbruksuniversitet,Institutionen för ekonomi,Department of Economics
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(creator_code:org_t)
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- 2024
- 2024
- Engelska.
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Ingår i: Journal of Agricultural Economics. - 0021-857X .- 1477-9552. ; 75, s. 465-472
- Relaterad länk:
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https://res.slu.se/i...
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visa fler...
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https://doi.org/10.1...
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Abstract
Ämnesord
Stäng
- Explaining farmer decision making using cumulative prospect theory is of increasing importance. We present a systematic review on European farmers' preferences under the cumulative prospect theory framework. We identified 17 studies covering 2324 farmers from 12 European countries. All studies report that (on average) farmers are: (i) risk averse, (ii) loss averse, and (iii) overweight small probabilities and underweight large probabilities. However, there is a large heterogeneity across and within studies. These findings have implications for the analysis and design of policy and insurance.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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