ELICITATION OF RISK PREFERENCES FOR IRRIGATION FARMERS IN THE WINTERTON AREA: WEALTH RISK VERSUS ANNUAL INCOME RISK

The purpose of this article is to measure the absolute risk aversion coefficients (RACs) of irrigation farmers in the Winterton area if annual income and wealth are at stake. Decision makers became more risk averse when wealth instead of annual income is at stake. RACs measured at low, medium and high annual income and wealth levels, showed no change when annual income or wealth levels increased. The majority of irrigation farmers have risk neutral annual income and wealth risk preferences.


Other Titles:
Meting van die risiko-voorkeure van besproeiingsboere in die Wintertongebied: Inkomste- versus welvaartrisiko
Issue Date:
1994-03-1994-03-1994-03
Publication Type:
Journal Article
ISSN:
0303-1853
Language:
English
Published in:
Agrekon, Volume 33, Issue 1
Page range:
1-7




 Record created 2018-02-02, last modified 2018-02-02

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