Risk Attitude & the Structure of Decision Making: Evidence from the Hog Industry

We investigate the importance of an appropriate representation of behavior, risk attitude, and related characteristics for owner-managers making marketing decisions. We assess whether managerial/firm characteristics directly affect the decisions or if their influence occurs indirectly through impacts on risk aversion. The findings, which support an indirect effect, indicate that failure to represent the relationship between risk aversion, other characteristics, and behavior appropriately can mask the effect of risk aversion. A more complete understanding of the structure of decision making may assist economists and policymakers in designing and targeting mechanisms to transfer risk.


Issue Date:
Jul 26 2011
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/103610
Total Pages:
2
JEL Codes:
Q13
Series Statement:
13615
Poster




 Record created 2017-04-01, last modified 2017-08-26

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