英文文献:Risk Balancing Using Farm Level Data: An Econometric Analysis-使用农场水平数据的风险平衡:计量经济学分析
英文文献作者:Yan, Yan,Katchova, Ani L.,Barry, Peter J.
英文文献摘要:
In the paper, an econometric model is proposed to test the risk balancing hypothesis using farm level data. For the purpose, a constraint on expected utility maximization with respect to farm financial structure is given. Cluster method is applied to pick out the farms on the efficient frontier under expected utility maximization given risk attitude and actual interest rate. Regression results are given and compared to previous findings. Farm characteristics associated with the risk behaviors of farms with optimal utility are identified and compared with other farms.
在本文中,提出了一个计量经济学模型,以检验风险平衡假设使用农场水平的数据。在此基础上,给出了农业金融结构期望效用最大化的约束条件。在给定风险态度和实际利率的情况下,应用聚类方法在期望效用最大化的情况下选取有效边界上的农场。给出了回归结果并与以前的结果进行了比较。确定了与最优效用农场风险行为相关的农场特征,并与其他农场进行了比较。


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