Estimation of farmers' risk attitude: an econometric approach
提出一种计量经济学方法估计农民的Arrow-Pratt风险厌恶系数，通过农民在作物和休闲劳动间的资源配置模型，检验了Arrow关于绝对风险厌恶递减和相对风险厌恶递增的假设，实证结果支持这些假设。
Abstract An econometric procedure for estimating Arrow‐Pratt coefficients of risk aversion is derived. The model of farmers allocating land among different crops, and time between leisure and labor, allows for testing Arrow's hypotheses of decreasing absolute risk aversion and increasing relative risk aversion. The empirical results support these hypotheses.