Measuring risk attitudes among Mozambican farmers
通过实验室实地实验，测量莫桑比克北部农民在甘薯生产中的风险偏好，发现其偏好不符合常假设的恒定相对风险厌恶函数，而更符合灵活幂风险厌恶模型。
Although farmers in developing countries are generally thought to be risk averse, little is known about the actual form of their risk preferences. In this paper, we use a relatively large lab-in-the-field experiment to explore risk preferences related to sweet potato production among a sample of farmers in northern Mozambique. A unique feature of this experiment is that it includes a large subsample of husband and wife pairs. After exploring correlations between husband and wife preferences, we explicitly test whether preferences follow the constant relative risk aversion (CRRA) utility function, and whether farmers follow expected utility theory or rank dependent utility theory in generating their preferences. We reject the null hypothesis that farmers' preferences follow the CRRA utility function, in favor of the more flexible power risk aversion preferences. If we make the common CRRA assumption in our sample, we poorly predict risk preferences among those who are less risk averse.