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- W1988361946 abstract "Risk aversion has been considered a factor in mitigating the moral hazard problem in agri-environmental policy. If farmers face multiple sources of uncertainty, however, risk aversion could contribute to the problem. Focusing on a required reduction in the use of a potentially damaging input under an agri-environmental scheme, we address the implications of risk aversion for a farmer's decision on compliance. We show that risk aversion can indeed mitigate the moral hazard problem, but, if a required change in production practices increases output risk, the impact of risk aversion is ambiguous." @default.
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- W1988361946 date "2010-12-17" @default.
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- W1988361946 title "Agri-environmental policy and moral hazard under multiple sources of uncertainty" @default.
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- W1988361946 doi "https://doi.org/10.1093/erae/jbq049" @default.
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