1,521
Views
50
CrossRef citations to date
0
Altmetric
Articles

Using Field Experiments to Elicit Risk and Ambiguity Preferences: Behavioural Factors and the Adoption of New Agricultural Technologies in Rural India

&
Pages 707-724 | Accepted 24 Sep 2014, Published online: 12 Jun 2015

References

  • Bardhan, P., & Udry, C. (1999). Development microeconomics. New York, NY: Oxford University Press.
  • Barham, B., Chavas, J.-P., Fitz, D., Rίos Salas, V., & Schechter, L. (2014). The roles of risk and ambiguity in technology adoption. Journal of Economic Behavior and Organization, 97, 204–218. doi:10.1016/j.jebo.2013.06.014
  • Binswanger, H. (1980). Attitudes toward risk: Experimental measurement in rural India. American Journal of Agricultural Economics, 62, 395–407. doi:10.2307/1240194
  • Binswanger, H. P., & Sillers, D. A. (1983). Risk aversion and credit constraints in farmers’ decision-making: A reinterpretation. Journal of Development Studies, 20, 5–21. doi:10.1080/00220388308421885
  • Charness, G., & Viceisza, A. (2011). Comprehension and risk elicitation in the field: Evidence from rural Senegal. Discussion Paper 1135, International Food Policy Research Institute.
  • Cox, J. C., & Vjollca, S. (2001). Risk Aversion and Expected-Utility Theory: Coherence for Small- and Large-Stakes Gambles. University of Arizona Working Paper
  • de Brauw, A., & Eozenou, P. (2011). Measuring risk attitudes among Mozambican farmers. Harvest Plus Working Paper No.6, International Food Policy Research Institute (IFPRI).
  • Dixit, A. K., & Pindyck, R. S. (1994). Investment under uncertainty. Princeton, NJ: Princeton University Press.
  • Ellsberg, D. (1961). Risk, ambiguity and the Savage axioms. Quarterly Journal of Economics, 75, 643–669. doi:10.2307/1884324
  • Engle-Warnick, J., Escobal D’Angelo, J., & Laszlo, S. (2007). Ambiguity aversion as a predictor of technology choice: Experimental evidence from Peru. CIRANO Scientific Series Working Paper 2007s-01.
  • Feder, G. (1980). Farm size, risk aversion and the adoption of new technology under uncertainty. Oxford Economic Papers, 32, 263–283.
  • Feder, G., Just, R. E., & Zilberman, D. (1985). Adoption of agricultural innovations in developing countries: A survey. Economic Development and Cultural Change, 33, 255–298. doi:10.1086/451461
  • Government of Bihar (2012). Economic survey 2011-12. Patna, Bihar: Government of Bihar Finance Department.
  • Griliches, Z. (1957). Hybrid corn: An exploration in the economics of technological change. Econometrica, 25, 501–522. doi:10.2307/1905380
  • Harrison, G. W., Humphrey, S. J., & Verschoor, A. (2010). Choice under uncertainty: Evidence from Ethiopia, India and Uganda. The Economic Journal, 120, 80–104. doi:10.1111/j.1468-0297.2009.02303.x
  • Holt, C., & Laury, S. (2002). Risk aversion and incentive effects. American Economic Review, 92, 1644–1655. doi:10.1257/000282802762024700
  • Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47, 263–291.
  • Kahneman, D. (2011). Thinking, fast and slow. New York, NY: Farrar, Straus and Giroux.
  • Klibanoff, P., Marinacci, M., & Mukerji, S. (2005). A smooth model of decision making under ambiguity. Econometrica, 73, 1849–1892. doi:10.1111/j.1468-0262.2005.00640.x
  • Liu, E. (2013). Time to change what to sow: Risk preferences and technology adoption decisions of cotton farmers in China. Review of Economics and Statistics, 95, 1386–1403. doi:10.1162/REST_a_00295
  • Lybbert, T., & Bell, A. (2010). Stochastic benefit streams, learning, and technology diffusion: Why drought tolerance is not the new Bt. AgBio Forum, 13, 13–24.
  • Miyata, S. (2003). Household’s risk attitudes in Indonesian villages. Applied Economics, 35, 573–583. doi:10.1080/0003684022000020823
  • Mullainathan, S., & Shafir, E. (2013). Freeing up intelligence. Scientific American Mind, 25, 58–63. doi:10.1038/scientificamericanmind0114-58
  • Prelec, D. (1998). The probability weighting function. Econometrica, 66, 497–527. doi:10.2307/2998573
  • Rabin, M. (2000). Risk aversion and expected-utility theory: A calibration theorem. Econometrica, 68, 1281–1292. doi:10.1111/1468-0262.00158
  • Sandmo, A. (1971). On the theory of the competitive firm under price uncertainty. American Economic Review, 61, 65–73.
  • Tanaka, T., Camerer, C., & Nguyen, Q. (2010). Risk and time preferences: Linking experimental and household survey data from Vietnam. American Economic Review, 100, 557–571. doi:10.1257/aer.100.1.557
  • Train, K. (2003). Discrete choice models with simulation. Cambridge: Cambridge University Press.
  • Vargas-Hill, R. (2009). Using stated preferences and beliefs to identify the impact of risk on poor households. The Journal of Development Studies, 45, 151–171. doi:10.1080/00220380802553065
  • Wik, M., Aragie, K. T., Bergland, O., & Holden, S. T. (2004). On the measurement of risk aversion from experimental data. Applied Economics, 36, 2443–2451. doi:10.1080/0003684042000280580

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.