Risk Preference of Rice Growers in China: Theoretical Model and Quantitative Measurement

doi:10.11924/j.issn.1000-6850.casb17050102

Abstract

Abstract: To understand the risk preference type and risk preference level of rice growers in different areas of China, and promote the stable development of grain production, a theoretical model of expected utility function was established and the panel data model was used for estimation. Based on the regression results, the study measured the risk preference indexes of rice growers from 23 provinces and cities of the eastern, central, southwestern and northeastern areas of China during 2008- 2015. The results showed that rice farmers in different areas of China were risk-averse and the greater the yield of rice, the higher the risk aversion level of rice growers in the area. Therefore, for the risk-averse rice growers, reducing production risk is an effective means of achieving stable grain growth. The relevant suggestions are provided on strengthening the promotion of yield insurance, increasing government supply of public goods, and regulating agricultural markets.

CLC Number:

References

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