文章基本信息

标题：ANALYSING FARMERS’ USE OF PRICE HEDGING IN-STRUMENTS: AN EXPERIMENTAL APPROACH
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作者：Anastassiadis, Friederike ; Feil, Jan-Henning ; Mußhoff, Oliver 等
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2014
出版社：Food Distribution Research Society
摘要：This paper analyses the influencing factors of farmers’ use of price hedging instruments (PHIs) based upon a discrete choice experiment with German grain farmers. A mixed logit model is used to determine whether farmers’ choices of PHIs against cash sales are influenced by their price expectation, their risk attitude and their available storage capacities. The results show that farmers with a price expectation below the actual price level have a higher preference for using PHIs against cash sales in general and that the individual degree of risk aversion can have a significant impact on farmers’ choices of a specific PHI. A generally lower preference of farmers with available storage capacities for using PHIs as assumed in many theoretical contributions in the literature, however, cannot be confirmed.
关键词：Price hedging instruments;grain marketing;discrete choice experiment;mixed logit