A note on European farmers' preferences under cumulative prospect theory
系统回顾了17项研究、2324名欧洲农民在累积前景理论框架下的偏好，发现农民平均风险厌恶、损失厌恶，且高估小概率、低估大概率，但研究间差异大，对政策与保险设计有启示。
Abstract Explaining farmer decision making using cumulative prospect theory is of increasing importance. We present a systematic review on European farmers' preferences under the cumulative prospect theory framework. We identified 17 studies covering 2324 farmers from 12 European countries. All studies report that (on average) farmers are: (i) risk averse, (ii) loss averse, and (iii) overweight small probabilities and underweight large probabilities. However, there is a large heterogeneity across and within studies. These findings have implications for the analysis and design of policy and insurance.