Role of risk and uncertainty in agriculture

Authored by: Jean-Paul Chavas

The Routledge Handbook of Agricultural Economics

Print publication date:  July  2018
Online publication date:  July  2018

Print ISBN: 9781138654235
eBook ISBN: 9781315623351
Adobe ISBN:

10.4324/9781315623351-32

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Abstract

This chapter provides a review on the economics of risk in agriculture. It discusses research methods and issues related to the allocation of risk in the agricultural sector. The chapter explores the measurement of risk exposure. It examines the nature and assessment of risk aversion and individual risk preferences. It also evaluates the implications of economic analysis for risk management and policy. Finally, it reflects on some research challenges related to the allocation of risk in agriculture.

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