Journal
EUROPEAN REVIEW OF AGRICULTURAL ECONOMICS
Volume 41, Issue 5, Pages 775-815Publisher
OXFORD UNIV PRESS
DOI: 10.1093/erae/jbt041
Keywords
risk; quantile; irrigation; quantile moments; downside risk
Categories
Funding
- National Research Foundation of Korea - Korean Government [NRF-2011-330-B00074]
Ask authors/readers for more resources
This article develops a quantile moment approach to evaluate risk exposure and to illustrate risk valuation, and then applies it to examine the relative importance of downside risk and risk mitigation options associated with a highly controlled but stochastic production system on Korean farms. The econometric approach exploits a rich panel dataset to develop consistent and robust econometric estimates of the quantile moments needed to decompose and analyse risk outcomes. The results show that about 90 per cent of the cost of risk on Korean farms comes from exposure to downside risk. We also examine how management factors can help to mitigate risk exposure outcomes.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available