Producer preferences for contracts on a risky bioenergy crop

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dc.creatorKrah, Kwabena
dc.creatorPetrolia, Daniel
dc.creatorWilliams, Angelica
dc.creatorCoble, Keith
dc.creatorHarri, Ardian
dc.creatorRejesus, Roderick
dc.date2017-04-01T19:48:56Z
dc.date.accessioned2026-07-09T09:53:31Z
dc.descriptionThis study employs a stated choice experiment to identify producer preferences for contracts to produce a risky bioenergy crop. The study develops a theoretical framework that takes into account subjective risk preference and perception information while also accounting for heterogeneous status-quo (i.e., current crop) alternatives. Results from our Random Parameter Logit model indicate that price, biorefinery harvest, and establishment cost-share all had significant positive effects on the probability of a producer accepting a contract, whereas contract length have a negative effect. The study also finds evidence of significant preference heterogeneity in producer preferences for biorefinery harvest, yield insurance, and contract length. Incorporating subjective risk perception and risk preference information, as well as accounting for heterogeneous status-quo alternatives in the decision framework improves overall model performance.
dc.identifierdoi:10.22004/ag.econ.212483
dc.identifierhttps://ageconsearch.umn.edu/record/212483/files/FINAL_MIS_PAPER.pdf
dc.identifierhttp://ageconsearch.umn.edu/record/212483
dc.identifier.urihttp://hdl.handle.net/123456789/613375
dc.languageeng
dc.publisher
dc.sourcehttp://ageconsearch.umn.edu/record/212483
dc.titleProducer preferences for contracts on a risky bioenergy crop
dc.typeText

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University of Minnesota