文章基本信息

标题：The Role of Risk and Risk-Aversion in Adoption of Alternative Marketing Arrangements by the U.S. Farmers
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作者：Hu, Wu-Yueh ; Vukina, Tomislav ; Zheng, Viaoyong 等
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2014
卷号：SUPPL
出版社：Food Distribution Research Society
摘要：Abstract The objective of this paper is to analyze the relationship between farmers’ risk-aversions and the riskiness of various agricultural enterprises to see which marketing arrangements would typically emerge. Relying on the basic agency theory model we hypothesize the prevalence of alternative marketing arrangements (AMAs) in situations with high-risk averse farmers and high-risk enterprises and the prevalence of spot (cash) markets for low risk-averse participants and less risky enterprises. Our empirical tests are carried out using the 2004 Agricultural Resource Management Survey (ARMS). The empirical results are largely supportive of the agency theory of contract choice.
关键词：Agency theory;Risk;Contract choice