Template-Type: ReDIF-Paper 1.0
Author-Name:  Tomasz Gerard Czekaj
Author-Name-First: Tomasz Gerard
Author-Name-Last: Czekaj
Author-Email: tcz@ifro.ku.dk
Author-Workplace-Name: Department of Food and Resource Economics, University of Copenhagen
Author-Name:  Arne Henningsen
Author-Name-First: Arne 
Author-Name-Last: Henningsen
Author-Email: arne@ifro.ku.dk
Author-Workplace-Name: Department of Food and Resource Economics, University of Copenhagen
Title: Panel Data Nonparametric Estimation of Production Risk and Risk Preferences: An Application to Polish Dairy Farms
Abstract: We apply nonparametric panel data kernel regression to investigate production risk, out-put price uncertainty, and risk attitudes of Polish dairy farms based on a firm-level unbalanced panel data set that covers the period 2004–2010. We compare different model specifications and different approaches for obtaining firm-specific measures of risk attitudes. We found that Polish dairy farmers are risk averse regarding production risk and price uncertainty. According to our results, Polish dairy farmers perceive the production risk as being more significant than the risk related to output price uncertainty.
Length: 68 pages
Creation-Date:  2013-10
File-URL: http://okonomi.foi.dk/workingpapers/WPpdf/WP2013/IFRO_WP_2013_6.pdf
File-Format: Application/pdf
Number: 2013/6
Classification-JEL: C14, C23, D24, Q12
Keywords: production risk, price uncertainty, nonparametric econometrics, panel data, Polish dairy farms
Handle: RePEc:foi:wpaper:2013_6