Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/117326 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
EFForTS Discussion Paper Series No. 14
Verlag: 
GOEDOC, Dokumenten- und Publikationsserver der Georg-August-Universität, Göttingen
Zusammenfassung: 
This article compares the use of risk-increasing and risk-reducing production inputs with the experimentally measured risk attitudes of farmers. For this purpose, the Just-Pope production function indicates production inputs' influence on output risk and a Holt-Laury lottery is used to measure the producer´s risk attitude. We test whether more risk averse farmers use more risk-reducing and less risk-increasing production inputs. Therefore, we apply a unique data set which includes 185 small-scale farmers which are producing rubber on 260 plots on the island of Sumatra, Indonesia. The Just-Pope production function indicates that fertiliser usage has a risk-reducing effect, whereas herbicide usage and plot size have risk-increasing effects. For labour and plantation age, the influence on output risk is ambiguous. By including the outcome of a Holt-Laury lottery into the analysis, we found the expected result that more risk averse farmers use more (risk-reducing) fertiliser and less (risk-increasing) herbicides. These consistent results provide an example for the external validity of measuring risk attitude with the Holt-Laury lottery.
Schlagwörter: 
Holt-Laury lottery
Just-Pope production function
output risk
rubber
Indonesia
JEL: 
C91
C93
Q12
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Dokumentart: 
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