A Household Model of On‐Farm Storage Under Price Risk
构建了一个包含消费、储存、储蓄和劳动决策的农业家庭模型，指出价格风险下的粮食储存不能仅用投机行为解释，而需考虑农户的风险规避和粮食安全动机。基于印度村庄面板数据的实证分析拒绝了风险中性偏好，发现风险应对对小农户的储存和劳动决策尤为重要。
Abstract We present an agricultural household model of consumption, storage, savings, and labor decisions and argue that food crop storage under price risk cannot be fully explained by “risk taking” or speculative behavior alone, as the commodity storage literature suggests. Often, and especially in the case of small farmers, the explanation lies in the household's aversion to risk and in food security considerations. The empirical analysis, using ICRISAT quarterly panel data from Shirapur, provides evidence against risk‐neutral preferences. We find that risk response is particularly significant in the storage and labor decisions of small farm households.