The objective of this study is to investigate the degree of risk aversion towards investment in the Quebec hog and dairy sectors. The Direct Elicitation of Utility function was employed to determine producers' degree of aversion to risk. The Delphi technique was also introduced as a means of obtaining more refined and realistic information. The highly diverse risk attitudes which vary between extremely concave and extremely convex utility functions indicate, on average, a slightly risk averse behaviour for both farming groups. Dairy producers have 69% risk-averse, 10% close to risk-neutrality and 21% risk-loving individuals for the $100,000 investment game in the EP format. These figures are respectively 69 %, 6 % and 23 % for hog producers. Hog farmers are found more averse to risk than dairy producers, but more significantly at higher levels of investment. Integrated and non-integrated hog producers do not show any conclusive differences with respect to their risk preferences.
| Identifer | oai:union.ndltd.org:LACETR/oai:collectionscanada.gc.ca:QMM.59539 |
| Date | January 1990 |
| Creators | Legault, Benoit |
| Publisher | McGill University |
| Source Sets | Library and Archives Canada ETDs Repository / Centre d'archives des thèses électroniques de Bibliothèque et Archives Canada |
| Language | English |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
| Format | application/pdf |
| Coverage | Master of Science (Department of Agricultural Economics.) |
| Rights | All items in eScholarship@McGill are protected by copyright with all rights reserved unless otherwise indicated. |
| Relation | alephsysno: 001070995, proquestno: AAIMM63674, Theses scanned by UMI/ProQuest. |
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