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A Comprehensive Assessment of the Role of Risk in U.S. Agriculture

  • Book
  • © 2002

Overview

Editors:
  1. Richard E. Just

    1. University of Maryland, College Park, USA

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    You can also search for this editor in PubMed   Google Scholar

  2. Rulon D. Pope

    1. Brigham Young University, USA

    View editor publications

    You can also search for this editor in PubMed   Google Scholar

Part of the book series: Natural Resource Management and Policy (NRMP, volume 23)

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Table of contents (25 chapters)

  1. Front Matter

    Pages i-xiv
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  2. Behavior under Risk: General Concepts and Their Significance for Agriculture

    1. Front Matter

      Pages 1-1
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    2. Expected Utility as a Paradigm for Decision Making in Agriculture

      • Jack Meyer
      Pages 3-19

    3. Non-Expected Utility: What do the Anomalies Mean for Risk in Agriculture?

      • David E. Buschena
      Pages 21-40

    4. Ordering Risky Choices

      • Lindon J. Robison, Robert J. Myers
      Pages 41-51

    5. Conceptual Foundations of Expectations and Implications for Estimation of Risk Behavior

      • Richard E. Just, Gordon C. Rausser
      Pages 53-80

    6. Information, Processing Capacity, and Judgment Bias in Risk Assessment

      • David R. Just
      Pages 81-101

  3. Conceptual Adaptations of Risk Models for Agriculture

    1. Front Matter

      Pages 103-103
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    2. Dual Approaches to State-Contingent Supply Response Systems under Price and Production Uncertainty

      • Robert G. Chambers, John Quiggin
      Pages 105-120

    3. Can Indirect Approaches Represent Risk Behavior Adequately?

      • Rulon D. Pope, Atanu Saha
      Pages 121-142

    4. The Significance of Risk under Incomplete Markets

      • Jean-Paul Chavas, Zohra Bouamra-Mechemache
      Pages 143-165

    5. Contracts and Risk in Agriculture: Conceptual and Empirical Foundations

      • Brent Hueth, David A. Hennessy
      Pages 167-189

  4. Adequacy of General Methodological Approaches for Risk Analysis

    1. Front Matter

      Pages 191-191
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    2. Programming Methods for Risk-Efficient Choice

      • C. Robert Taylor, Thomas P. Zacharias
      Pages 193-211

    3. The Econometrics of Risk

      • Matthew T. Holt, Jean-Paul Chavas
      Pages 213-241

    4. Agriculture as a Managed Ecosystem: Implications for Econometric Analysis of Production Risk

      • John M. Antle, Susan M. Capalbo
      Pages 243-263

    5. Survey and Experimental Techniques as an Approach for Agricultural Risk Analysis

      • Brian Roe, Alan Randall
      Pages 265-285

  5. Sources and Consequences of Agricultural Risk: How Farmers Manage Risk

    1. Front Matter

      Pages 287-287
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    2. Modeling Price and Yield Risk

      • Barry K. Goodwin, Alan P. Ker
      Pages 289-323

    3. Agricultural Technology and Risk

      • Michele C. Marra, Gerald A. Carlson
      Pages 325-352
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Keywords

About this book

After all the research on agricultural risk to date, the treatment of risk in agricultural research is far from harmonious. Many competing risk models have been proposed. Some new methodologies are largely untested. Some of the leading empirical methodologies in agricultural economic research are poorly suited for problems with aggregate data where risk averse behavior is less likely to be important.
This book is intended to (i) define the current state of the literature on agricultural risk research, (ii) provide a critical evaluation of economic risk research on agriculture to date and (iii) set a research agenda that will meet future needs and prospects. This type of research promises to become of increasing importance because agricultural policy in the United States and elsewhere has decidedly shifted from explicit income support objectives to risk-related motivations of helping farmers deal with risk. Beginning with the 1996 Farm Bill, the primary set of policy instruments from U.S. agriculture has shifted from target prices and set aside acreage to agricultural crop insurance.
Because this book is intended to have specific implications for U.S. agricultural policy, it has a decidedly domestic scope, but clearly many of the issues have application abroad. For each of the papers and topics included in this volume, individuals have been selected to give the strongest and broadest possible treatment of each facet of the problem. The result is this comprehensive reference book on the economics of agricultural risk.

Reviews

`In the concluding chapter, the editors of the book attempt to draw together eight `themes' that emerge from the preceding sections. This is done in a very concise fashion and results in an excellent summary of the current state of play in the subject as a whole. The book shows evidence of close editorial control. It is an excellent and heavyweight book, which should be on the shelf of every researcher who is seriously interested in risk in agriculture.'
European Review of Agriculture Economics, 29:4 (2002)
`This book, written by leaders in the field of risk and risk management in agriculture, provides an excellent reference book for anyone wanting to understand and pursue economic research on agricultural risk in the United States.'
American Journal of Agricultural Economics (November 2003)

Editors and Affiliations

  • University of Maryland, College Park, USA

    Richard E. Just

  • Brigham Young University, USA

    Rulon D. Pope

Bibliographic Information

  • Book Title: A Comprehensive Assessment of the Role of Risk in U.S. Agriculture

  • Editors: Richard E. Just, Rulon D. Pope

  • Series Title: Natural Resource Management and Policy

  • DOI: https://doi.org/10.1007/978-1-4757-3583-3

  • Publisher: Springer New York, NY

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer Science+Business Media New York 2002

  • Hardcover ISBN: 978-0-7923-7567-8Published: 30 November 2001

  • Softcover ISBN: 978-1-4419-4924-0Published: 06 December 2010

  • eBook ISBN: 978-1-4757-3583-3Published: 11 November 2013

  • Series ISSN: 0929-127X

  • Series E-ISSN: 2511-8560

  • Edition Number: 1

  • Number of Pages: XIV, 586

  • Topics: Environmental Management, Agricultural Economics, Economic Policy, Environmental Economics

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