On Spatially Dependent Risk Preferences: The Case of Nigerian Farmers
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Scholar |
Otros documentos de la autoría: Ambali, Omotuyole Isiaka; Areal, Francisco; Georgantzis, Nikolaos
Metadatos
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INVESTIGACIONMetadatos
Título
On Spatially Dependent Risk Preferences: The Case of Nigerian FarmersFecha de publicación
2021-05-25Editor
Multidisciplinary Digital Publishing InstituteISSN
2071-1050Cita bibliográfica
Ambali, O.I.; Areal, F.J.; Georgantzis, N. On Spatially Dependent Risk Preferences: The Case of Nigerian Farmers. Sustainability 2021, 13, 5943. https:// doi.org/10.3390/su13115943Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://www.mdpi.com/2071-1050/13/11/5943Versión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
Rice farmers’ attitudes toward risk-taking have been identified as one of the factors affecting
investment decisions and wealth accumulation. While existing studies have identified the socioeconomic
factors driving ... [+]
Rice farmers’ attitudes toward risk-taking have been identified as one of the factors affecting
investment decisions and wealth accumulation. While existing studies have identified the socioeconomic
factors driving farmers’ risk attitudes, spatial variables that may correlate with decisions
are often ignored in the risk models due to difficulties in measurement. We studied unobserved
spatial heterogeneity in farmer’s risk preferences by incorporating spatial dependency into a farmer’s
risk preference model. We used data from a survey conducted with Nigerian farmers between March
and May 2016. The survey collected information on 2016 farmers’ socio-demographic characteristics
and farm attributes including its geographical location as well as information on the quality of roads.
In addition, a set of experiments design to elicit famers’ attitudes toward risk were conducted. We
estimated a spatial autoregressive model using the instrumental variable method. We found that
unobserved spatial heterogeneity (e.g., soil, topographic farmers emulating each other) was present
in farmer’s risk preferences along with socio-demographic variables such as age, gender, marital
status, and religion and farm characteristics such as farm size and road quality. These results are
relevant for policy decision-making processes. [-]
Publicado en
Sustainability, 2021, 13, 5943.Código del proyecto o subvención
RTI2018-096927-B-100 | UJI-B2018-76 | UJI-B2018-77
Título del proyecto o subvención
Caracterísitcas individuales en entornos estratégicos y formación de expectativas: experimentos y simulaciones (ICSEFE) | Aspectos tangibles e intangibles del "valor" y su rol en la formación de burbujas económicas | Managing expectations: formación de expectativas y diseño de políticas macroeconómicas
Derechos de acceso
info:eu-repo/semantics/openAccess
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