Technological and financial approaches to risk management in agriculture: an integrated approach
Contribuinte(s) |
Bob Lindner Dave Pannell Ross Kingwell |
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Data(s) |
01/01/2004
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Resumo |
In the present paper, risk-management problems where farmers manage risk both through production decisions and through the use of market-based and informal risk-management mechanisms are considered. It is shown that many of these problems share a common structure, and that a unified and informative treatment of a broad spectrum of risk-management tools is possible within a cost-minimisation framework, under minimal conditions on their objective functions. Fundamental results are derived that apply regardless of the producer's preference towards risks, using only the no-arbitrage condition that agricultural producers never forego any opportunity to lower costs without lowering returns. |
Identificador | |
Idioma(s) |
eng |
Publicador |
Blackwell |
Palavras-Chave | #Agricultural Economics & Policy #Economics #Yield Crop Insurance #C1 #340201 Agricultural Economics #729999 Economic issues not elsewhere classified |
Tipo |
Journal Article |