@article{Bai:280242,
      recid = {280242},
      author = {Bai, Junfei and Xu, Zhigang and Qiu, Huanguang and Liu,  Haiyan},
      title = {Optimising seed portfolios to cope ex ante with risks from  bad weather: evidence from a recent maize farmer survey in  China},
      journal = {Australian Journal of Agricultural and Resource Economics},
      address = {2015-04},
      number = {428-2018-4555},
      year = {2015},
      abstract = {Using 4-year panel data collected from surveying 640  farmers from leading maize producing provinces in China,  this study analyses how maize farmers cope with anticipated  risks from bad weather by strategically adjusting variety  portfolios, with particular interest in farmers’ strategies  in choosing and combining new and old varieties. While  diversification was commonly demonstrated to be an  effective means to reduce risk in most previous studies,  our empirical results indicate that, in facing anticipated  risks from bad weather, Chinese maize farmers tend to use  fewer new varieties and allocate more land to old  varieties. The lack of knowledge about weather tolerance of  new varieties might be the major reason for this practice.  As new varieties often have higher yield potential relative  to old varieties due to technological progress, this  finding suggests that Chinese maize farmers might be  trading yield potential against risk reduction from bad  weather. Furthermore, this study shows that maize farmers’  variety adoption is significantly related to farmers’ land  conditions as well as their access to credit markets and  technique extensions, suggesting that a well designed  policy intervention could offset or partially offset the  anticipation of adverse weather impacts on farmers’ variety  choices and therefore on maize production.},
      url = {http://ageconsearch.umn.edu/record/280242},
      doi = {https://doi.org/10.22004/ag.econ.280242},
}