The role of irrigation in farmers' risk management strategies in France
利用欧洲农场会计数据网数据，联合估计农民风险态度与生产决策，发现灌溉技术起到自我保险作用，灌溉农户利润均值更高、方差更低，但增加用水量会提高产出方差。
We analyse the way French farmers manage production risks, especially the risk of drought. To this end, we assess the role of irrigation in farmers’ risk management. Based on the European Farm Accountancy Data Network data, we jointly estimate farmers' attitudes to risk and their production decisions. We correct for sample selection bias and endogeneity. Results of the probit model show that irrigation technology serves as a self-insurance. Results of the joint estimation show that irrigating farmers have higher means but lower variance of profits than non-irrigating farmers. However, for already irrigating farmers, using more water volumes increases the variance of outcome.