Hostname: page-component-586b7cd67f-2brh9 Total loading time: 0 Render date: 2024-11-24T19:56:51.107Z Has data issue: false hasContentIssue false
  • English
  • Français

Preference for Risk Management Information Sources: Implications for Extension and Outreach Programming

Published online by Cambridge University Press:  15 September 2016

Roderick M. Rejesus ,
Thomas O. Knight ,
Mauricio Jaramillo ,
Keith H. Coble ,
George F. Patrick  and
Alan Baquet
Roderick M. Rejesus
Affiliation:
Department of Agricultural and Resource Economics at North Carolina State University in Raleigh, North Carolina
Thomas O. Knight
Affiliation:
Department of Agricultural and Applied Economics at Texas Tech University in Lubbock, Texas
Mauricio Jaramillo
Affiliation:
Department of Agricultural and Applied Economics at Texas Tech University in Lubbock, Texas
Keith H. Coble
Affiliation:
Department of Agricultural Economics at Mississippi State University in Mississippi State, Mississippi
George F. Patrick
Affiliation:
Department of Agricultural Economics at Purdue University in West Lafayette, Indiana
Alan Baquet
Affiliation:
Department of Agricultural Economics at the University of Nebraska-Lincoln in Lincoln, Nebraska
Get access

Abstract

This article examines farmers’ preferences for various risk management information sources. Our results suggest that information from risk management experts, in-depth materials studied on their own, and popular press outlets tend to be preferred and are ranked highly by producers. Using a regression model to investigate farmer/farm attributes that affect preference for a particular risk management information source, we find that younger farmers with college education, higher leverage, assets greater than $1 million, risk-loving attitudes, and who have used professional services (marketing consultants) tend to prefer information from risk management experts, the Internet, and marketing clubs/other producers. On the other hand, producers who prefer self-study of educational materials and popular press information sources tend to be younger, with lower leverage levels, and have used fewer professional services.

Keywords

crop insuranceextensioninformation sourcesoutreachrisk management
Type
Contributed Papers
Information
Agricultural and Resource Economics Review , Volume 37 , Issue 1 , April 2008 , pp. 106 - 116
Copyright
Copyright © 2008 Northeastern Agricultural and Resource Economics Association 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Amponsah, W.A. 1995. “Computer Adoption and Use of Information Services by North Carolina Farmers.” Journal of Agricultural and Applied Economics 27(2): 565–576.Google Scholar
Coble, K.H., Knight, T.O., Patrick, G.F., and Baquet, A.E. 1999. “Crop Producer Risk Management Survey: A Preliminary Summary of Selected Data.” Information Report No. 99-001, a report from the Understanding Farmer Risk Management Decision Making and Educational Needs Research Project, Department of Agricultural Economics, Mississippi State University, Starkville, MS.Google Scholar
Davis, T.D., Patrick, G.F., Coble, K.H., Knight, T.O., and Baquet, A.E. 2005. “Forward Pricing Behavior of Corn and Soybean Producers.” Journal of Agricultural and Applied Economics 37(1): 145–160.Google Scholar
Ford, S.A., and Babb, E.M. 1989. “Farmer Sources and Uses of Information.” Agribusiness: An International Journal 5(5): 465–476.3.0.CO;2-6>CrossRefGoogle Scholar
Gloy, B.A., Akridge, J.T., and Whipker, L.D. 2000. “The Usefulness and Influence of Information Sources on Commercial Farms.” Selected paper prepared for presentation at the AAEA annual meetings in Tampa, Florida (July 30-August 2).Google Scholar
Goodwin, B.K., and Schroeder, T.C. 1994. “Human Capital, Producer Education Programs, and the Adoption of Forward Pricing Methods.” American Journal of Agricultural Economics 76(4): 936–947.CrossRefGoogle Scholar
Greene, W. 2003. Econometric Analysis (5th edition). Upper Saddle River, NJ: Prentice Hall.Google Scholar
Hall, D.C., Knight, T.O., Coble, Κ.Η., Patrick, G.F., and Baquet, A.E. 2003. “Analysis of Beef Producers’ Risk Management Perceptions and Desire for Further Risk Management Education.” Review of Agricultural Economics 25(2): 430–448.Google Scholar
Knight, T.O., Coble, K.H., Patrick, G.F., and Baquet, A.E. 2003. “Risk Management Education: An Examination of Crop Producers’ Participation in Recent Programs and of Their Desire for Additional Training.” Journal of Agricultural and Applied Economics 35(3): 571–587.CrossRefGoogle Scholar
Ngathou, I.N., Bukenya, J.O., and Chembezi, D.M. 2005. “Information Sources Preferred by Limited Resource Farmers in Using Agricultural Risk Tools.” Selected paper prepared for presentation at the Southern Agricultural Economics Association's annual meetings in Little Rock, Arkansas (February 5-9).Google Scholar
Ortmann, G.F., Patrick, G.F., Musser, W.N., and Doster, D.H. 1993. “Use of Private Consultants and Other Sources of Information by Large Cornbelt Farmers.” Agribusiness: An International Journal 9(4): 309–342.3.0.CO;2-K>CrossRefGoogle Scholar
Patrick, G.F., Baquet, A.E., Coble, K.H., and Knight, T.O. 2000. “Hog Risk Management Survey: Summary and Preliminary Analysis.” Staff Paper No. 00-9, Department of Agricultural Economics, Purdue University, West Lafayette, Indiana.Google Scholar
Patrick, G.F., and Ullerich, S. 1996. “Information Sources and Risk Attitudes of Large-Scale Farmers, Farm Managers, and Agricultural Bankers.” Agribusiness: An International Journal 12(5): 461–471.Google Scholar
Pennings, J.M.E., and Garcia, P. 2001. “Measuring Producers’ Risk Preferences: A Global Risk Attitude Construct.” American Journal of Agricultural Economics 83(4): 993–1009.Google Scholar
Schnitkey, G.D., Batte, M., Jones, E., and Botmogno, J. 1992. “Information Preferences of Ohio Commercial Farmers: Implications for Extension.” American Journal of Agricultural Economics 74(2): 486–496.Google Scholar
Schnitkey, G.D., Irwin, S.H., and Sherrick, B.J. 2004. “Teaching Crop Insurance to Farmers: Show Them the Data.” Unpublished manuscript, University of Illinois, Urbana, IL.Google Scholar
Vergara, O., Coble, K.H., Knight, T.O., Patrick, G.F., and Baquet, A.E. 2001. “Understanding Limited Resource Farmers’ Risk Management Decision Making: Summary and Preliminary Analysis.” AEC Research Report No. 2001-2003, Department of Agricultural Economics, Mississippi State University, Starkville, MS.Google Scholar
Vergara, O., Patrick, G.F., Coble, K.H., Martin, S.W., Baquet, A.E., and Knight, T.O. 2002. “Extension Agriculture Educator Survey: A Preliminary Summary of Selected Data.” Information Report No. 2002-2005, a report from the Understanding Farmer Risk Management Decision Making and Educational Needs Research Project, Department of Agricultural Economics, Mississippi State University, Starkville, MS.Google Scholar