Publication Details

Category Text Publication
Reference Category Journals
DOI 10.1002/aepp.13330
Licence creative commons licence
Title (Primary) Farmers' risk preferences in 11 European farming systems: A multi-country replication of Bocquého et al. (2014)
Author Rommel, J.; Sagebiel, J.; Baaken, M.C.; Barreiro-Hurlé, J.; Bougherara, D.; Cembalo, L.; Cerjak, M.; Čop, T.; Czajkowski, M.; Espinosa-Goded, M.; Höhler, J.; Kuhfuss, L.; Lagerkvist, C.-J.; Lapierre, M.; Lefebvre, M.; Matzdorf, B.; Ott, E.; Paparella, A.; Quendler, E.; Rodriguez-Entrena, M.; Schulze, C.; Šumrada, T.; Tensi, A.; Thoyer, S.; Tomić Maksan, M.; Vecchio, R.; Willinger, M.; Zagórska, K.
Source Titel Applied Economic Perspectives and Policy
Year 2023
Department UPOL
Volume 45
Issue 3
Page From 1374
Page To 1399
Language englisch
Topic T5 Future Landscapes
Data and Software links
Keywords agriculture; artefactual field experiment; cumulative prospect theory; expected utility theory; risk attitudes
Abstract We replicate Bocquého et al. (2014), who used multiple price lists to investigate the risk preferences of 107 French farmers. We collected new data from 1430 participants in 11 European farming systems. In agreement with the original study, farmers' risk preferences are best described by Cumulative Prospect Theory. Structural model estimates show that farmers in the new samples are, on average, less loss averse and more susceptible to probability distortion than in the original study. Explorative analyses indicate differences between estimation approaches, as well as heterogeneity between and within samples. We discuss challenges in replications of economic experiments with farmers across farming contexts.
Persistent UFZ Identifier
Rommel, J., Sagebiel, J., Baaken, M.C., Barreiro-Hurlé, J., Bougherara, D., Cembalo, L., Cerjak, M., Čop, T., Czajkowski, M., Espinosa-Goded, M., Höhler, J., Kuhfuss, L., Lagerkvist, C.-J., Lapierre, M., Lefebvre, M., Matzdorf, B., Ott, E., Paparella, A., Quendler, E., Rodriguez-Entrena, M., Schulze, C., Šumrada, T., Tensi, A., Thoyer, S., Tomić Maksan, M., Vecchio, R., Willinger, M., Zagórska, K. (2023):
Farmers' risk preferences in 11 European farming systems: A multi-country replication of Bocquého et al. (2014)
Appl. Econ. Perspect. Policy 45 (3), 1374 - 1399 10.1002/aepp.13330