期刊
EUROPEAN REVIEW OF AGRICULTURAL ECONOMICS
卷 33, 期 4, 页码 485-510出版社
OXFORD UNIV PRESS
DOI: 10.1093/erae/jbl029
关键词
risk aversion; Bayesian random coefficient model; Gibbs sampling; organic farming
Organic farming is usually considered to be more risky than conventional farming, but the risk aversion of organic farmers compared with that of conventional farmers has not been studied. Using a non-structural approach to risk estimation, a Bayesian random coefficient model is used to obtain individual Arrow-Pratt coefficients of absolute risk aversion for a sample of Dutch organic and non-organic arable farmers. The model is estimated using Gibbs sampling. The results indicate that organic farmers are significantly less risk averse than their non-organic colleagues.
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