文章基本信息

标题：Simultaneous estimation of risk and time preferences among small-scale cattle farmers in West Africa
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作者：Sabine Liebenehm ; Hermann Waibel
期刊名称：Diskussionspapiere / Universität Hannover
印刷版ISSN：0949-9962
出版年度：2012
卷号：2012
出版社：Hannover
摘要：This study investigates risk and time preferences of small-holder cattle farmers in West Africa. We apply a discounted utility model and jointly estimate a prospect theory-based utility function and a quasi-hyperbolic discounting function using a maximum likelihood method. Results show that West African farmers are less lossaverse and are more patient than suggested by comparable studies in Asian developing countries. The main factors influencing farmers’ risk and time preferences are cattle herd size and net revenue from sales of cattle products.
关键词：experiments; prospect theory; risk preference; time preference; West;Africa