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The Effects of Loss Aversion on Trade Policy and the Anti-Trade Bias Puzzle [PDF]
We study the implications of loss aversion for trade policy determination and show how it allows us to explain a number of important and puzzling features of trade policy.
Patricia Tovar
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Advanced Intelligent Systems, EarlyView.As food insecurity and global food demands surge, artificial intelligence (AI)‐based technologies offer promising opportunities to reduce food loss and waste. In this perspective, current AI adoption across the food supply chain is assessed using various academic, industry, and policy sources.
Akansha Prasad +5 more
wiley +1 more source
Consumer Loss Aversion and the Intensity of Competition [PDF]
Consider a differentiated product market in which all consumers are fully informed about match value and price at the time they make their purchasing decision. Initially, consumers become informed about the prices of all products in the market but do not
Karle, Heiko, Peitz, Martin
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American Journal of Agricultural Economics, EarlyView.Abstract Crop insurance is undoubtedly an extremely valuable element in protecting agricultural businesses, but in many cases standard indemnity‐based products have had very low uptake due to high transaction costs elevating premiums to unaffordable levels.
Amogh Prakasha Kumar +2 more
wiley +1 more source
Crop insurance and irrigation behavior: The conditional role of pumping costs
American Journal of Agricultural Economics, EarlyView.Abstract Excessive water use for irrigation can accelerate the depletion of water resources, undermining agriculture's resilience to weather‐related shocks. Understanding how farmers make water use decisions is essential for developing effective water management policies.
Sungmin Cheu, Molly Sears
wiley +1 more source
Improving access to new technologies: An experiment with Kenyan input sellers
American Journal of Agricultural Economics, EarlyView.Abstract Agrodealers play a critical role in rural economies, selling essential inputs for agricultural production, stocking new products, and providing farmers with technical advice. However, uncertainty can discourage them from stocking newer, less familiar products, limiting the availability of innovative technologies and leading to market failures ...
Sarah W. Kariuki +6 more
wiley +1 more source
Risk Aversion in Cumulative Prospect Theory [PDF]
This paper characterizes the conditions for risk aversion in cumulative prospect theory where risk aversion is defined in the strong sense (Rothshild Stiglitz 1970).
Horst Zank, Schmidt, Ulrich
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Premium subsidy designs and crowding out of insurance demand
American Journal of Agricultural Economics, EarlyView.Abstract Crop insurance is an important instrument to protect farmers against extreme weather events. Many countries provide subsidies for crop insurance products to make insurance more affordable for farmers. The Federal Crop Insurance Program in the United States and major European crop insurance programs such as in Spain, Italy, and France focus on ...
Tim Philippi
wiley +1 more source
Myopic Loss Aversion, Asymmetric Correlations, and the Home Bias [PDF]
Myopic loss aversion has been used to explain why a high equity premium might be consistent with plausible levels of risk aversion. The intuition is that it plays the role of high risk aversion in portfolio choice.
Kevin Amonlirdviman +1 more
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Income sharing for common pool resources with uncertain productivity
American Journal of Agricultural Economics, EarlyView.Abstract We address the interconnected issues of externalities in the use of a natural common‐pool resource system and adverse effects of environmental uncertainty on risk‐averse resource users. We set up a simple analytical model and derive conditions such that insurance by means of an income sharing mechanism mitigates externalities and hence ...
Claudia Kelsall +2 more
wiley +1 more source