9 pages., Article # 1RIB10, Via online journal., Millennials have different investing knowledge and behaviors than generations in the past. Moreover, as compared to baby boomers, millennials have more debt and less wealth to invest. We used current literature and information collected from Extension educators to explore the values, investing behaviors, learning styles, and loyalty attitudes of millennials. We also examined and evaluated investment resources that had been created or adapted by four Extension faculty members across the nation. A proposed framework with suggestions for future research is provided.
Ngoma, Hambulo (author), Mason-Wardell, Nichole M. (author), Samboko, Paul C. (author), and Hangoma, Peter (author)
Format:
Research summary
Publication Date:
2019
Published:
Zambia: Department of Agricultural, Food, and Resource Economics, Michigan State University, East Lansing.
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 166 Document Number: D11674
Notes:
4 pages., Feed the Future Innovation Lab for Food Security Policy, Research Paper 164., Using games, researchers tested the hypothesis that innate behavioral traits such as risk and time preferences play a role in Zambia farmers' decisions about adoption of Climate-smart agriculture (CSA) practices. "Given our findings that more risk-averse individuals are less likely to adopt CSA, a practice that is intended to be risk-reducing, a key policy implication is the need for a retooling of both public and private extension services to better demonstrate and educate farmers on the risk-reducing effect of CSA practices such as conservation agriculture. Moreover, if insurance and subsidies are to be used successfully to nudge adoption, extension will need to educate farmers on the structure of and mechanisms of payouts. This is important to build trust in the incentive systems.
17 pages, via online journal, Translator disclaimer
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ABSTRACT
Purpose: To identify and understand factors influencing farmers’ decisions to engage with extension activities. To understand farmer segments and how these factors vary in order to develop recommendations for future extension delivery.
Methodology: Qualitative data was obtained through semi-structured interviews with 30 Tasmanian dairy farmers. The Theory of Planned Behaviour (TPB) framework was used to identify and explore factors influencing farmer engagement intentions and behaviour.
Findings: There was a negative effect of social influence on experienced farmers’ intention to re-engage with extension, due to the belief extension activities were targeted to less experienced, younger farmers. Perceived control factors limiting engagement included lack of confidence about existing knowledge, resulting in farmers perceiving extension activities as confronting.
Practical implications: Key factors influencing intention to engage and continued engagement with extension were identified. These findings will inform future design and targeting of extension activities to improve initial and continued engagement. Subsequent recommendations are presented.
Theoretical implications: Previous TPB studies on adoption as an outcome of extension have typically focused on quantifying adoption predictions, rather than exploring how social factors interact and influence intentions and behaviours. This paper demonstrates how the TPB can be qualitatively applied to better understand farmer decision making, in this instance with respect to their initial and continued engagement with extension.
Originality/value: This paper demonstrates how the TPB can provide an evidence-based framework to qualitatively explore farmer intentions and behaviour. This approach has led to new insights into farmer decision making that will inform improvements in future extension development.
