Measuring risk attitudes among Mozambican farmers
Measuring risk attitudes among Mozambican farmers
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DOI：
10.1016/j.jdeveco.2014.08.002
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发表时间：
2014-11-01
影响因子：
5
通讯作者：
Eozenou, Patrick
中科院分区：
文献类型：
--
作者：
de Brauw, Alan;Eozenou, Patrick
尽管发展中国家的农民通常被认为是厌恶风险的，但人们对他们的风险偏好的实际形式知之甚少。在这篇文章中，我们使用一个相对较大的田间实验室实验来探索莫桑比克北部农民中与红薯生产相关的风险偏好。这项实验的一个独特之处在于，它包括了一大对夫妻的子样本。在探索了夫妻偏好之间的相关性之后，我们明确地检验了偏好是否遵循常量相对风险厌恶(CRRA)效用函数，以及农户在产生偏好时是否遵循期望效用理论或等级依赖效用理论。我们不接受农户偏好服从CRRA效用函数的零假设，而倾向于更灵活的电力风险规避偏好。如果我们在样本中做出常见的CRRA假设，我们就不能很好地预测那些风险厌恶程度较低的人的风险偏好。(C)2014年提交人。Elsevier B.V.出版。这是一篇基于CC by License(http://creativecommons.org/licenses/by/3.0/).的开放获取文章
Although farmers in developing countries are generally thought to be risk averse, little is known about the actual form of their risk preferences. In this paper, we use a relatively large lab-in-the-field experiment to explore risk preferences related to sweet potato production among a sample of farmers in northern Mozambique. A unique feature of this experiment is that it includes a large subsample of husband and wife pairs. After exploring correlations between husband and wife preferences, we explicitly test whether preferences follow the constant relative risk aversion (CRRA) utility function, and whether farmers follow expected utility theory or rank dependent utility theory in generating their preferences. We reject the null hypothesis that farmers' preferences follow the CRRA utility function, in favor of the more flexible power risk aversion preferences. If we make the common CRRA assumption in our sample, we poorly predict risk preferences among those who are less risk averse. (C) 2014 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/3.0/).