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Do Irish cereal Producers use Multiple Cropping as a Strategy for Dealing with Risk?

Boyle, Gerry and McQuinn, Kieran (2003) Do Irish cereal Producers use Multiple Cropping as a Strategy for Dealing with Risk? UNSPECIFIED. (Unpublished)

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Abstract

Portfolio theory suggests that risk-averse agents favour a diversified protfolio of assets as a strategy to offset market risk. This paper explicitly tests whethr Irish cereal producers decision to engage in multi-crop production(as set deversification) in itself reveals a relatively risk-averave nature. The issue is examined within the context of sample selection bias, where multi-croppers (portfolio diversifiers) are treated as a sub-sample of a general sample (mono + multi croppers) of Irish cereal production

Item Type: Other
Keywords: Risk Attitudes, Heckman Two-Step, Fixed Effects
Subjects: Social Sciences > Economics
Item ID: 111
Depositing User: Ms Sandra Doherty
Date Deposited: 12 Sep 2003
Refereed: No
URI:

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