Consistency of risk premium measures

Darren Hudson; Keith Coble; Jayson Lusk

doi:10.1111/j.1574-0862.2005.00366.x

Consistency of risk premium measures

Darren Hudson, Keith Coble, Jayson Lusk

Agricultural and Applied Economics

Research output: Contribution to journal › Article › peer-review

23 Scopus citations

Abstract

This research uses the results of a series of within-sample experiments to elicit risk premium measures from agricultural producers. Results show that there is little consistency between measures in different contexts and using different elicitation methods, suggesting that underlying risk preferences are not consistent. These results highlight some of the difficulty with expected utility theory and risk measurement.

Original language	English
Pages (from-to)	41-49
Number of pages	9
Journal	Agricultural Economics
Volume	33
Issue number	1
DOIs	https://doi.org/10.1111/j.1574-0862.2005.00366.x
State	Published - Jul 2005

Keywords

Economic experiments
Expected utility
Risk
Risk elicitation

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Consistency of risk premium measures

Abstract

Keywords

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