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European Association of Agricultural Economists >
2008 International Congress, August 26-29, 2008, Ghent, Belgium >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/44052
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| Title: | A Comparison of Risk Exposure in Aquaculture and Agricultural Businesses |
| Authors: | Flaten, Ola
Lien, Gudbrand D.
Tveteras, Ragnar |
| Keywords: | Risk analysis
variability
Norway |
| Issue Date: | 2008 |
| Abstract: | Agriculture and aquaculture have common
features associated with their biological nature affecting
risk exposure of the businesses. The aim of this paper is
to compare risk exposure in salmon farming and
agricultural enterprises in Norway by using an implicit
error component model to examine the risk structure of
yields, prices and economic returns at the farm level.
Results indicate a higher farm-level year-to-year
variability in yields, prices and economic returns in
salmon farming than in agricultural enterprises. The
variability in livestock enterprises was generally lower
than for crop enterprises. Return on assets was highest
in salmon farming with an average annual return of
9.2%. All of the agricultural farm types exhibited a
negative average return on assets on average. Stochastic
dominance tests of the distribution of economic returns
from aquaculture and agricultural farm types showed
salmon farming to be the most risk efficient alternative
and salmon farming was most attractive from an
investor’s perspective. |
| URI: | http://purl.umn.edu/44052 |
| Institution/Association: | European Association of Agricultural Economists>2008 International Congress, August 26-29, 2008, Ghent, Belgium |
| Total Pages: | 5 |
| Collections: | 2008 International Congress, August 26-29, 2008, Ghent, Belgium
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