Risk preferences of agricultural students and their willingness to become a farmer
This study investigates the link between risk preferences of agricultural students and their willingness to become a farmer. I measure willingness to become a farmer and risk preferences in an online survey and incentivized experiment conducted with 577 students at Bogor Agricultural University, Ind...
| Main Author: | |
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| Format: | H2 |
| Language: | Inglés |
| Published: |
SLU/Dept. of Economics
2022
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| Subjects: |
| _version_ | 1855573003988893696 |
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| author | Nainggolan, Lukas Bonar |
| author_browse | Nainggolan, Lukas Bonar |
| author_facet | Nainggolan, Lukas Bonar |
| author_sort | Nainggolan, Lukas Bonar |
| collection | Epsilon Archive for Student Projects |
| description | This study investigates the link between risk preferences of agricultural students and their willingness to become a farmer. I measure willingness to become a farmer and risk preferences in an online survey and incentivized experiment conducted with 577 students at Bogor Agricultural University, Indonesia. Discriminating between alternative theories of decision-making under risk, I find that students’ risk preferences behave in accordance with Cumulative Prospect Theory (CPT), whereas there is no connection between risk preferences and students’ willingness to become a farmer. Framing the risky gamble tasks in either an agricultural or a general entrepreneurship context does not help in improving the predictive power of the tasks. Based on a large sample with high statistical power, these results contribute to the debates on risk preferences in agriculture as well as methodological studies on the external validity of behavioral field experiments. I also discuss the impact of socio-economic background variables as they relate to generation renewal and the so-called “young farmer problem” in agriculture. |
| format | H2 |
| id | RepoSLU18093 |
| institution | Swedish University of Agricultural Sciences |
| language | Inglés |
| publishDate | 2022 |
| publishDateSort | 2022 |
| publisher | SLU/Dept. of Economics |
| publisherStr | SLU/Dept. of Economics |
| record_format | eprints |
| spelling | RepoSLU180932022-07-16T01:06:35Z Risk preferences of agricultural students and their willingness to become a farmer Nainggolan, Lukas Bonar risk preferences cumulative prospect theory agricultural students experiment generation renewal Indonesia This study investigates the link between risk preferences of agricultural students and their willingness to become a farmer. I measure willingness to become a farmer and risk preferences in an online survey and incentivized experiment conducted with 577 students at Bogor Agricultural University, Indonesia. Discriminating between alternative theories of decision-making under risk, I find that students’ risk preferences behave in accordance with Cumulative Prospect Theory (CPT), whereas there is no connection between risk preferences and students’ willingness to become a farmer. Framing the risky gamble tasks in either an agricultural or a general entrepreneurship context does not help in improving the predictive power of the tasks. Based on a large sample with high statistical power, these results contribute to the debates on risk preferences in agriculture as well as methodological studies on the external validity of behavioral field experiments. I also discuss the impact of socio-economic background variables as they relate to generation renewal and the so-called “young farmer problem” in agriculture. SLU/Dept. of Economics 2022 H2 eng https://stud.epsilon.slu.se/18093/ |
| spellingShingle | risk preferences cumulative prospect theory agricultural students experiment generation renewal Indonesia Nainggolan, Lukas Bonar Risk preferences of agricultural students and their willingness to become a farmer |
| title | Risk preferences of agricultural students and their willingness to become a farmer |
| title_full | Risk preferences of agricultural students and their willingness to become a farmer |
| title_fullStr | Risk preferences of agricultural students and their willingness to become a farmer |
| title_full_unstemmed | Risk preferences of agricultural students and their willingness to become a farmer |
| title_short | Risk preferences of agricultural students and their willingness to become a farmer |
| title_sort | risk preferences of agricultural students and their willingness to become a farmer |
| topic | risk preferences cumulative prospect theory agricultural students experiment generation renewal Indonesia |