Panel data nonparametric estimation of production risk and risk preferences: an application to Polish dairy farms
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Panel data nonparametric estimation of production risk and risk preferences : an application to Polish dairy farms. / Czekaj, Tomasz Gerard; Henningsen, Arne.
Department of Food and Resource Economics, University of Copenhagen, 2013.Research output: Working paper › Research
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TY - UNPB
T1 - Panel data nonparametric estimation of production risk and risk preferences
T2 - an application to Polish dairy farms
AU - Czekaj, Tomasz Gerard
AU - Henningsen, Arne
PY - 2013
Y1 - 2013
N2 - We apply nonparametric panel data kernel regression to investigate production risk, out-put price uncertainty, and risk attitudes of Polish dairy farms based on a firm-level unbalanced panel data set that covers the period 2004–2010. We compare different model specifications and different approaches for obtaining firm-specific measures of risk attitudes. We found that Polish dairy farmers are risk averse regarding production risk and price uncertainty. According to our results, Polish dairy farmers perceive the production risk as being more significant than the risk related to output price uncertainty.
AB - We apply nonparametric panel data kernel regression to investigate production risk, out-put price uncertainty, and risk attitudes of Polish dairy farms based on a firm-level unbalanced panel data set that covers the period 2004–2010. We compare different model specifications and different approaches for obtaining firm-specific measures of risk attitudes. We found that Polish dairy farmers are risk averse regarding production risk and price uncertainty. According to our results, Polish dairy farmers perceive the production risk as being more significant than the risk related to output price uncertainty.
M3 - Working paper
T3 - IFRO Working Paper
BT - Panel data nonparametric estimation of production risk and risk preferences
PB - Department of Food and Resource Economics, University of Copenhagen
ER -
ID: 99608304