Smallholder Farmer Risk Preferences in Northern Ghana:Evidence from a Controlled Field Experimentt

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dc.contributor.author Anim- Somuah, H.
dc.contributor.author Kemeze, F.H.
dc.contributor.author Miranda, M.J.
dc.contributor.author Kuwornu, J.K.M.
dc.date.accessioned 2020-07-28T12:34:45Z
dc.date.available 2020-07-28T12:34:45Z
dc.date.issued 2020-02-04
dc.identifier.citation Francis H. Kemeze, Mario J. Miranda, John K. M. Kuwornu & Henry Anim-Somuah (2020): Smallholder Farmer Risk Preferences in Northern Ghana:Evidence from a Controlled Field Experiment, The Journal of Development Studies, DOI: 10.1080/00220388.2020.1715945 en_US
dc.identifier.other https://doi.org/10.1080/00220388.2020.1715945
dc.identifier.uri http://ugspace.ug.edu.gh/handle/123456789/35718
dc.description Research Article en_US
dc.description.abstract We conduct a controlled field experiment to elicit risk preferences among maize farmers in Northern Ghana. Farmers participating in the experiment were asked to choose from a menu of lotteries representing different hypothetical probability distributions over yields produced by ‘traditional’ and ‘high yield’ maize varieties. We estimate a Rank-Dependent Utility Model (RDU) with an Expo-Power utility function, allowing for systematic subjective underweighting or overweighting of outcome probabilities and non-constant relative risk aversion. Based on our estimates, we cannot reject the hypotheses that decisions made by farmers in our study can be uniformly characterised by conventional Von Neumann–Morgenstern expected utility theory (EUT), but reject the hypothesis that farmers exhibit constant relative risk aversion en_US
dc.description.sponsorship U.S. Agency for International Development Borlaug LEAP [grant number 60045697]. en_US
dc.language.iso en en_US
dc.publisher The Journal of Development Studies en_US
dc.relation.ispartofseries ;2020
dc.subject Northern Ghana en_US
dc.subject field experiment en_US
dc.subject Rank-Dependent Utility Model (RDU) en_US
dc.subject Expo-Power en_US
dc.title Smallholder Farmer Risk Preferences in Northern Ghana:Evidence from a Controlled Field Experimentt en_US
dc.type Article en_US


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