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Evaluation of risk preferences and coping strategies to manage with various agricultural risks: evidence from India

机译：评估风险偏好和应对各种农业风险的应对策略：来自印度的证据

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The present study proposes to analyse farmers' attitudes towards risk and examine the effect of specific socio-demographic and socio-economic characteristics on farmers' risk attitudes in irrigated and rain-fed regions of Odisha, India. A total of 400 randomly selected farmers participated in the experiment. The study applies the Modified Holt and Laury Lottery method for measuring risk attitudes. The majority of the farmers are having a risk-averse attitude and only a few farmers have a risk-taking attitude. One-sixth of the farmers are having risk-neutral decision behavior. The effect of Socio-demographic and socio-economic variables on farmers' risk attitude is also measured using an ordered probit model dealing with risky outcomes. The study reveals a negative relationship between household size and a risk-averse attitude. The study also reveals a negative relationship between off-farm income source and risk-averse attitude. The study also finds that there is an immediate need to improve extension facilities in the study area to train these farmers regarding the best risk management practices for deciding the choice of a particular crop such as growing short-duration crops as well as climate-resistant crop variety. Storage facilities need to be improved and there is an urgent need for improved irrigation systems to increase production particularly in Bolangir district. The result provides government agencies an outline to know how risky farming environment affects farmers' production decisions and designing policies such as crop insurance, weather-based crop insurance and other safety nets that effectively address farmer's problem. The main intention behind this experimental design is to make the policy makers aware of the high degree of risk aversion existing in a rural developing farm setting. Socio-demographic and socio-economic variables can be taken as a reference while implementing policies dealing with risky outcomes.
机译：本研究建议分析农民对风险的态度，并研究特定的社会人口统计学和社会经济特征对印度奥里萨邦灌溉和雨水喂养地区农民的风险态度的影响。共有400位随机选择的农民参加了实验。该研究采用修正的霍尔特和劳里彩票方法来衡量风险态度。大多数农民持规避风险的态度，只有少数农民持冒险态度。六分之一的农民具有风险中立的决策行为。社会人口统计学和社会经济变量对农民风险态度的影响也使用处理风险结果的有序概率模型来衡量。该研究揭示了家庭规模与规避风险之间的负相关关系。该研究还揭示了非农收入来源与规避风险态度之间的负相关关系。该研究还发现，迫切需要改进研究区域的推广设施，以培训这些农民有关最佳风险管理实践的经验，以决定选择特定作物（例如种植短时作物和抗气候作物）品种。需要改善存储设施，并且迫切需要改进灌溉系统以增加产量，特别是在博兰吉尔地区。结果为政府机构提供了一个概述，以了解高风险的农业环境如何影响农民的生产决策，并设计政策，例如作物保险，基于天气的作物保险和其他可有效解决农民问题的安全网。该实验设计的主要目的是使决策者意识到农村发展中农场环境中存在的高度规避风险的意识。在执行有关风险结果的政策时，可以将社会人口和社会经济变量作为参考。

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