期刊
EUROPEAN REVIEW OF AGRICULTURAL ECONOMICS
卷 39, 期 3, 页码 439-457出版社
OXFORD UNIV PRESS
DOI: 10.1093/erae/jbr024
关键词
production risk; irrigation; insurance; joint estimation; sample selection; C30; D80; Q12
资金
- ANR RISECO [ANR-08-JCJC-0074-01]
- Cemagref
- Agence Nationale de la Recherche (ANR) [ANR-08-JCJC-0074] Funding Source: Agence Nationale de la Recherche (ANR)
We analyse the way French farmers manage production risks, especially the risk of drought. To this end, we assess the role of irrigation in farmers' risk management. Based on the European Farm Accountancy Data Network data, we jointly estimate farmers attitudes to risk and their production decisions. We correct for sample selection bias and endogeneity. Results of the probit model show that irrigation technology serves as a self-insurance. Results of the joint estimation show that irrigating farmers have higher means but lower variance of profits than non-irrigating farmers. However, for already irrigating farmers, using more water volumes increases the variance of outcome.
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