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Measuring risk attitude of agricultural producers using a mail survey: how consistent are the methods?
Author(s) -
Fausti Scott,
Gillespie Jeffrey
Publication year - 2006
Publication title -
australian journal of agricultural and resource economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 1364-985X
DOI - 10.1111/j.1467-8489.2006.00328.x
Subject(s) - preference elicitation , preference , consistency (knowledge bases) , construct (python library) , situational ethics , computer science , psychology , marketing , risk analysis (engineering) , social psychology , statistics , business , mathematics , artificial intelligence , programming language
A mail survey is used to examine the consistency of alternative risk preference elicitation procedures using five commonly used methods. These elicitation procedures have been used in previous studies to characterise risk preference. Results show little consistency across procedures, supporting strength‐of‐preference studies. A general recommendation for mail surveys is the development of relatively easy‐to‐understand risk‐preference elicitation procedures that are framed according to the situational construct in question.