Producer Decision Making under Uncertainty: Role of Past Experiences and Question Framing
通过分裂样本选择实验，研究美国肉牛生产者在不确定性下如何利用过往经历作为参考点，以及问题框架如何影响损失厌恶、边际支付意愿和市场参与估计。
Abstract Limited research examines the role of reference points or how uncertain outcomes are processed in producer decisions. This study employs a survey containing a split‐sample choice experiment varying how uncertain outcomes are portrayed, and assesses multiple candidate reference points. Results suggest that U.S. cattle producers use the best outcome experienced as reference points in their decisions, and the method by which uncertain outcomes are presented impacts loss aversion, marginal willingness to pay, and market participation estimates. This illustrates how research employing split samples, multiple reference points, and alternative methods of portraying uncertain outcomes may better identify producer decision‐making.