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Preference for Risk Management Information Sources: Implications for Extension and Outreach Programming

Published online by Cambridge University Press:  15 September 2016

Roderick M. Rejesus ,
Thomas O. Knight ,
Mauricio Jaramillo ,
Keith H. Coble ,
George F. Patrick  and
Alan Baquet
Roderick M. Rejesus
Affiliation:
Department of Agricultural and Resource Economics at North Carolina State University in Raleigh, North Carolina
Thomas O. Knight
Affiliation:
Department of Agricultural and Applied Economics at Texas Tech University in Lubbock, Texas
Mauricio Jaramillo
Affiliation:
Department of Agricultural and Applied Economics at Texas Tech University in Lubbock, Texas
Keith H. Coble
Affiliation:
Department of Agricultural Economics at Mississippi State University in Mississippi State, Mississippi
George F. Patrick
Affiliation:
Department of Agricultural Economics at Purdue University in West Lafayette, Indiana
Alan Baquet
Affiliation:
Department of Agricultural Economics at the University of Nebraska-Lincoln in Lincoln, Nebraska
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Abstract

This article examines farmers’ preferences for various risk management information sources. Our results suggest that information from risk management experts, in-depth materials studied on their own, and popular press outlets tend to be preferred and are ranked highly by producers. Using a regression model to investigate farmer/farm attributes that affect preference for a particular risk management information source, we find that younger farmers with college education, higher leverage, assets greater than $1 million, risk-loving attitudes, and who have used professional services (marketing consultants) tend to prefer information from risk management experts, the Internet, and marketing clubs/other producers. On the other hand, producers who prefer self-study of educational materials and popular press information sources tend to be younger, with lower leverage levels, and have used fewer professional services.

Keywords

crop insuranceextensioninformation sourcesoutreachrisk management
Type
Contributed Papers
Information
Agricultural and Resource Economics Review , Volume 37 , Issue 1 , April 2008 , pp. 106 - 116
Copyright
Copyright © 2008 Northeastern Agricultural and Resource Economics Association 

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