18 pages, Recent studies cast doubt on the ability of abstract experiments to predict decision-making in the field. Thus, scholars have argued for more ‘realism’ by introducing context to field experiments. Yet, such realism may work against the induced values of monetary incentives in economic experiments. It is an open question whether contextual framing works best with or without inducing values, through methods such as the use of monetary incentives. Using a sample of 146 German farmers, we compare experimentally the predictive power of a framed lottery in an agricultural context vs. using an abstract version. For one half of the sample, lotteries are incentivised; for the other half, they are hypothetical. Although risk preferences differ between treatments, all four lottery tasks correlate poorly with farmers’ real-world use of risk management instruments such as harvest or hail insurance. Subjects who start with an agricultural framing are willing to take significantly greater risks in the lotteries. More generally, our findings cast doubt on the ability of lottery tasks to predict risk-taking in the field.
Berghorn, Claudia (author), Berghorn, Hans-Heinrich (author), and International research project of the regional Farmers' Union, Westfaelisch-Lippischer Landwirtschaftsverband (WLV) with the support of the German and European Farmers' Unions (DBV/COPA).
Format:
Research report
Language:
German
Publication Date:
2013
Published:
International
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 190 Document Number: D02697
Notes:
78 pages., Report of research by the authors in Great Britain, the Republic of Ireland and the United States of America, August-December 2012.
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 186 Document Number: D00921
Notes:
Paper presented at the 131st EAAE (European Association of Agricultural Economists) seminar, "Innovation for agricultural competitiveness and sustainability of rural areas," Prague, Czech Republic, September 18-19, 2012. 19 pages.
Konig, Bettina (author), Kuntosch, Anett (author), Bokelmann, Wolfgang (author), Doernberg, Alexandra (author), Schwerdtner, Wim (author), Busse, Maria (author), Siebert, Rosemarie (author), Koschatzky, Knut (author), and Stahlbecker, Thomas (author)
Format:
Paper
Publication Date:
2012-09
Published:
Germany
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 187 Document Number: D01144
Notes:
Paper presented at the 131st EAAE Seminar, "Innovation for agricultural competitiveness and sustainability of rural areas," Prague, Czech Republic, September 18-19, 2012. 17 pages.
Roosen, Jutta (author), Marette, Stephan (author), and Drescher, Larissa (author)
Format:
Paper
Publication Date:
2011-08
Published:
Germany
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 183 Document Number: D00074
Notes:
Paper prepared for presentation at the European Association of Agricultural Economists 2011 Congress, Zurich, Switzerland, August 30-September 2, 2011. via AgEcon Search. 12 pages.
Grebitus, Carola (author), Colson, Gregory (author), and Menapace, Luisa (author)
Format:
Paper
Publication Date:
2011-07
Published:
Germany
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 184 Document Number: D00247
Notes:
Paper presented at the Agricultural and Applied Economics Association's 2011 AAEA and NAREA joint annual meeting, Pittsburgh, Pennsylvania, July 24-26, 2011. Via AgEcon Search. 18 pages.
Georgiadis, Pavlos (author), Schumacher, Jorg (author), Hilscher, Manuel (author), Manoharan, Dhusenti (author), Birkenberg, Athena (author), Schwizer, Steffen (author), Idel, Anita (author), Hudson-Wiedenmann, Ursula (author), Herren, Hans Rudolf (author), Gottwald, Franz-Theo (author), Fadani, Andrea (author), Bellows, Anne C. (author), Kruse, Michael (author), and Zeller, Manfred (author)
Format:
Paper
Publication Date:
2010-09-16
Published:
Germany
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 181 Document Number: C36560
Notes:
Tropentag 2010 Conference on International Research on Food Security, Natural Resource Management and Rural Development, Zurich, Switzerland, September 14-16, 2010. 4 pages.
