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Abstract
Farmers in the high rainfall region of Western Australia are able to obtain agricultural information
and incorporate this information into their production systems. As a result risk associated with this
production may alter. To determine the benefits of this change, farmers were asked to directly value
the information that they received by using questionnaires based on the contingent valuation method
(CVM. These valuations combined with additional data collected from the questionnaires were
incorporated into profit functions and farmers' attitudes towards risk were estimated. It was
hypothesised that these estimations would be consistent With the Australian literature and would
therefore be valid and reliable. Results showed that generally farmers' risk aversion coefficients,
estimated using their valuations for the information that they used, were small and so comparable to
other recorded findings. It may therefore be argued that farmers were able to nominate valid and
reliable valuations for the information that they used.