On Spatially Dependent Risk Preferences: The Case of Nigerian Farmers
| Autor: | Omotuyole Isiaka Ambali, Nikolaos Georgantzis, Francisco J. Areal |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
media_common.quotation_subject
spatial dependence Geography Planning and Development TJ807-830 Management Monitoring Policy and Law Neighbourhood effects TD194-195 decision making Renewable energy sources neighbourhood effects immune system diseases 0502 economics and business Quality (business) GE1-350 Risk attitudes 050207 economics Spatial dependence Rice farmers Location Socioeconomics media_common Environmental effects of industries and plants Renewable Energy Sustainability and the Environment 05 social sciences Instrumental variable food and beverages Preference Spatial heterogeneity respiratory tract diseases instrumental variable rice farmers Environmental sciences Investment decisions Geography risk attitudes Marital status 050202 agricultural economics & policy Decision making |
| Zdroj: | Sustainability, Vol 13, Iss 5943, p 5943 (2021) Repositori Universitat Jaume I Universitat Jaume I Sustainability Volume 13 Issue 11 |
| ISSN: | 2071-1050 |
| Popis: | Rice farmers’ attitudes toward risk-taking have been identified as one of the factors affecting investment decisions and wealth accumulation. While existing studies have identified the socioeconomic factors driving farmers’ risk attitudes, spatial variables that may correlate with decisions are often ignored in the risk models due to difficulties in measurement. We studied unobserved spatial heterogeneity in farmer’s risk preferences by incorporating spatial dependency into a farmer’s risk preference model. We used data from a survey conducted with Nigerian farmers between March and May 2016. The survey collected information on 2016 farmers’ socio-demographic characteristics and farm attributes including its geographical location as well as information on the quality of roads. In addition, a set of experiments design to elicit famers’ attitudes toward risk were conducted. We estimated a spatial autoregressive model using the instrumental variable method. We found that unobserved spatial heterogeneity (e.g., soil, topographic farmers emulating each other) was present in farmer’s risk preferences along with socio-demographic variables such as age, gender, marital status, and religion and farm characteristics such as farm size and road quality. These results are relevant for policy decision-making processes. |
| Databáze: | OpenAIRE |
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