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 -