The Rice Production Risk and Farmer's Risk Attitude in Tohoku and Hokuriku / 東北・北陸における稲作生産のリスクおよび農家のリスク態度
- Resource Type
- Journal Article
- Authors
- Katsuhiro SAITO; Kohei KISHI; 岸 紘平; 齋藤 勝宏
- Source
- 農業経済研究 / Journal of Rural Economics. 2015, 87(2):145
- Subject
- production risk
risk aversion
risk premium
- Language
- Japanese
- ISSN
- 0387-3234
2188-1057
The article analyzes a production risk and farmer's risk attitude in Japanese rice production. For this purpose, we estimate the stochastic production function and the absolute risk aversion function for the Tohoku and Hokuriku areas for 1981-2012 period allowing for both production risk and price risk. The empirical results show that the production risk in each area has decreased and the gap of yield variation between the two areas has almost diminished. However there is difference in the degree of risk aversion between them, and subsequently in the amount of the risk premium.