@article{PORSCH:281190,
      recid = {281190},
      author = {PORSCH, Annkatrin and GANDORFER, Markus and BITSCH, Vera },
      title = {RISK MANAGEMENT OF GERMAN FRUIT PRODUCERS},
      journal = {Review of Agricultural and Applied Economics (RAAE)},
      address = {2018-03-31},
      number = {1340-2018-5173},
      month = {Mar},
      year = {2018},
      note = {doi: 10.15414/raae.2018.21.01.10-22   https://roaae.org/issue/review-of-agricultural-and-applied-economics-raae-vol-21-no-12018/?article=risk-management-of-german-fruit-producers  },
      abstract = { Horticultural farms in Germany face substantial business  risks. However, fruit farms often struggle to implement  appropriate risk management processes, and the risk  management literature widely has ignored this farm type.  The aim of the study was to improve the assessment of risks  by farmers and the choice of suitable risk management  instruments. Therefore, a risk management process based on  subjective probabilities and suitable for small and  medium-sized farms was developed, considering the specific  needs of family run businesses. An online survey was  conducted to achieve a comprehensive view of the risk  perception and risk management practices of German fruit  producers. Price and production risks are the most relevant  risk categories for fruit farmers. However, among single  risk sources, those in the people risk category were seen  as the most important. Results show significant  interactions among risk categories and a significant  correlation between loss experience and the rating of risk  categories. The assumption that risk averse farmers  generally rate risks higher than risk neutral or risk  seeking farmers cannot be confirmed. Diversification seems  to be the most important risk management instrument for  many fruit producers, especially diversification of  marketing channels, farm income, and production activities.  Further research should focus on the apparent inconsistency  between the satisfaction with instruments reported by  farmers and the actual implementation of many of them  (e.g., hail insurance and anti-hail net). Furthermore,  there is a need for research, to develop decision models  considering the interactions of risks and risk management  instruments, loss experience and risk seeking attitudes. },
      url = {http://ageconsearch.umn.edu/record/281190},
      doi = {https://doi.org/10.22004/ag.econ.281190},
}