Attitudes Toward Risk in a Changing Agricultural Marketing Environment
Year: 2013
Type: article
Abstract: This issue of Choices continues the discussion of risk management with a focus on decision making in risky environments. If risk can be defined as exposure to uncertain consequences, particularly unfavorable consequences (Hardaker et al., 2004), then risk management implies that decision-makers have some degree of choice or action by which they can influence the outcome of risky endeavors or mitigate the impact of the unfavorable outcomes. We begin with a discussion of the risk preference characteristics of those involved in production agriculture. We then turn to efforts and tools these producers use to manage risk, beginning with commodity risk management through futures and options. Direct marketing alternatives via agricultural e-commerce are discussed. Finally, food safety liability among specialty crop producers is examined.
Authors: Welch, Mark, Lamie, R. David
Language: English
Subfield: Soil Science
Domain: Life Sciences
SDG: Zero hunger
Open Access status: green
OpenAlex ID: W2252944151