A note on European farmers' preferences under cumulative prospect theory

IF 3.4 2区经济学 Q1 AGRICULTURAL ECONOMICS & POLICY

Journal of Agricultural Economics Pub Date : 2023-10-30 DOI:10.1111/1477-9552.12565

Robert Finger, Viviana Garcia, Chloe McCallum, Jens Rommel

引用次数: 0

Abstract

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.

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累积前景理论下的欧洲农民偏好研究

运用累积前景理论解释农民的决策越来越重要。我们在累积前景理论框架下对欧洲农民的偏好进行了系统的回顾。我们确定了17项研究，涉及来自12个欧洲国家的2324名农民。所有研究报告称，（平均而言）农民：（i）厌恶风险，（ii）厌恶损失，以及（iii）增持小概率和减持大概率。然而，研究之间和研究内部存在很大的异质性。这些发现对保单和保险的分析和设计具有启示意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Agricultural Economics 管理科学-农业经济与政策

CiteScore

7.90

自引率

2.90%

发文量

审稿时长

>24 weeks

期刊介绍： Published on behalf of the Agricultural Economics Society, the Journal of Agricultural Economics is a leading international professional journal, providing a forum for research into agricultural economics and related disciplines such as statistics, marketing, business management, politics, history and sociology, and their application to issues in the agricultural, food, and related industries; rural communities, and the environment. Each issue of the JAE contains articles, notes and book reviews as well as information relating to the Agricultural Economics Society. Published 3 times a year, it is received by members and institutional subscribers in 69 countries. With contributions from leading international scholars, the JAE is a leading citation for agricultural economics and policy. Published articles either deal with new developments in research and methods of analysis, or apply existing methods and techniques to new problems and situations which are of general interest to the Journal’s international readership.