Agricultural arbitrage and risk preferences |
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| Authors: | Rulon D Pope Jeffrey T LaFrance Richard E Just |
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| Institution: | a Brigham Young University, United Statesb Washington State University, United Statesc University of California, Berkeley, United Statesd University of Maryland, United States |
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| Abstract: | A structural intertemporal model of agricultural asset arbitrage equilibrium is developed and applied to agriculture in the North Central region of the US. The data are consistent with a unifying level of risk aversion. The levels of risk aversion are more plausible than previous estimates for agriculture. However, the standard arbitrage equilibrium is rejected; perhaps, this is due to the period and the shortness of the period studied. |
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| Keywords: | G11 Q12 |
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