Behavioral Responses of Farmers to Risk

Optimal control and Monte Carlo simulation are used to measure farmers' risk attitudes. Discounting for the probablistic life expectancy of the firm. then comparing optimal capital structure to the observed. farmers in North Dakota internally rationed capital at a 19vel implying a time preference of money 6.39 percent below the rate expected of a risk neutral participant.


Issue Date:
Aug 02 1987
Publication Type:
Conference Paper/ Presentation
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/270124
Language:
English
Total Pages:
16




 Record created 2018-03-28, last modified 2020-10-28

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