Nonstructural Risk Attitude Estimation
提出一种无需联合估计企业技术和投入决策规则的风险态度计量方法,通过农户最优管理生产活动组合的假设简化模型,并用于估计三个印度村庄的风险态度,与已有实验和计量结果对比。
Abstract This paper presents an econometric approach to risk attitude estimation that does not require joint estimation of the structure of the firm's technology and input decision rules. The nonstructural approach replaces optimal input choice with the assumption that farmers optimally manage their portfolios of productive activities. By thus shifting the focus from the detailed production decisions of the farm manager to the net returns of the whole farm operation, the modeling problem is simplified. The nonstructural approach is used to estimate risk attitudes in three Indian villages. The results are compared to previous experimental and econometric estimates from the same villages.