Marketing contract choices in agriculture: The role of price expectation and price risk management
| Autor: | Aymeric Ricome, Arnaud Reynaud |
|---|---|
| Přispěvatelé: | Toulouse School of Economics (TSE), Université Toulouse 1 Capitole (UT1), Université Fédérale Toulouse Midi-Pyrénées-Université Fédérale Toulouse Midi-Pyrénées-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), Université Fédérale Toulouse Midi-Pyrénées |
| Rok vydání: | 2021 |
| Předmět: |
Risk perception
JEL: Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q1 - Agriculture/Q.Q1.Q13 - Agricultural Markets and Marketing • Cooperatives • Agribusiness Economics and Econometrics Price expectation Hedging Financial economics business.industry JEL: Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q1 - Agriculture/Q.Q1.Q14 - Agricultural Finance Storage [SHS.ECO]Humanities and Social Sciences/Economics and Finance Price risk Risk management Agriculture Economics Marketing contracts business Agronomy and Crop Science |
| Zdroj: | Agricultural Economics Agricultural Economics, Wiley, 2022, 53 (1), pp.170-186. ⟨10.1111/agec.12675⟩ |
| ISSN: | 1574-0862 0169-5150 |
| DOI: | 10.1111/agec.12675 |
| Popis: | National audience; We identify factors involved in the decision of farmers to use marketing contracts (pool, storage and forward contracts), and we explicitly account for the hedging and price-enhancement components of this decision. Using panel corner solution models (Tobit and double-hurdle) to represent farmers' contracting decision using a sample of French cereal producers, we find that both the hedging and the price-enhancement motives are important factors driving marketing choices. When risk aversion or exposure to price risk rises, the price-enhancement motive becomes less influential. Farmers appear to be more reluctant to base their marketing decisions on their price expectations in that case. |
| Databáze: | OpenAIRE |
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