Attitudes toward uncertainty among the poor: an experiment in rural EthiopiaReport as inadecuate




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Theory and Decision

, Volume 73, Issue 3, pp 453–464

First Online: 30 March 2011

Abstract

We investigate risk and ambiguity attitudes among Ethiopian farmers in one of the poorest regions of the world. Strong risk aversion and ambiguity aversion were found with the Ethiopian farmers. We compared their attitudes to those of a Western university student sample elicited by the same decision task. Ambiguity aversion was similar for farmers and students, but farmers were more risk averse. Our results show that ambiguity aversion is not restricted to Western student populations, and that studies of agricultural decisions may benefit from explicitly considering ambiguity attitudes.

KeywordsRisk attitudes Ambiguity attitudes Poverty Agriculture JEL ClassificationD81 C93 O12  Download to read the full article text



Author: Alpaslan Akay - Peter Martinsson - Haileselassie Medhin - Stefan T. Trautmann

Source: https://link.springer.com/







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