Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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    Producers' Complex Risk Management Choices
    Pennings, J.M.E. ; Isengildina, O. ; Irwin, S.H. ; Garcia, P. ; Good, D.L. - \ 2008
    Agribusiness 24 (2008)1. - ISSN 0742-4477 - p. 31 - 54.
    futures contracts - decisions - heterogeneity - adoption - attitude
    Producers have a wide variety of risk management instruments available, making their choice(s) complex. The way producers deal with this complexity can vary and may influence the impact that the determinants, such as risk aversion, have on their choices. A recently developed choice bracketing framework recognizes that producers are unable to evaluate all alternatives simultaneously and that to manage a complex task, they often group or bracket individual alternatives and their consequences together in choice sets. Data on 1,105 U.S. producers show that producers do not use all available combinations of risk management tools and that the influence of the determinants of producer's risk management decisions are not necessarily the same across risk management strategies within and across bracketing levels. The findings may help resolve puzzling results on the role that well-known determinants of risk management behavior have on producers' choices, extending knowledge on producers' risk management behavior. Further, the findings have managerial implications for policy makers and agribusiness companies that provide risk management services. [EconLit citations: M000, G1000, Q130]
    U.S. Crop Farmers' Use of Market Advisory Services
    Isengildina, O. ; Pennings, J.M.E. ; Irwin, S.H. ; Good, D.L. - \ 2006
    Journal of International Food and Agribusiness Marketing 18 (2006)3/4. - ISSN 0897-4438 - p. 67 - 86.
    This study reports that Market Advisory Services (MAS) are used by about 82% of commercial US crop producers, based on the results of a recent survey. Only 43% of MAS users rely on a single service, while the other 57% subscribe to multiple services. MAS users¿ profiles in terms of their (a) demographic characteristics, (b) risk attitude, and (c) marketing behavior are presented. The results indicate that MAS users can be differentiated based on their location and use of computers, though not on age and farm size. MAS users are shown to be significantly more risk-seeking than non-users. Furthermore, MAS users apply significantly more forward pricing techniques, but are no different from non-users in terms of marketing frequency.
    Heterogeneity in the Likelihood of Market Advisory Service Use by U.S. Crop Producers
    Pennings, J.M.E. ; Irwin, S. ; Good, D. ; Isengildina, O. - \ 2005
    Agribusiness 21 (2005)1. - ISSN 0742-4477 - p. 109 - 128.
    Abstract Analysis of a unique data set of 1,400 U.S. crop producers using a mixture-modeling framework shows that the likelihood of Marketing Advisory Services (MAS) use is, among others, driven by the perceived performance of MAS in terms of return and risk reduction, the match between the MAS and the crop producer's marketing philosophy, and the interaction between them. The influence of these factors on crop producers' MAS usage is not homogeneous across crop producers. The heterogeneity is played out in different MAS choices and appears to be driven by crop producers' risk attitudes. [EconLit citations: D210, D400, L100, L200, M310, Q120, Q130.]
    Crop Farmers' Use of Market Advisory Services
    Isengildina, O. ; Pennings, J.M.E. ; Irwin, S. ; Good, D.L. - \ 2004
    Urbana-Champaign, USA : University of Illinois (AgMAS Project Research Report 2001-01)
    The Impact of Marketing Advisory Service Recommendations on Producers' Marketing Decisions
    Pennings, J.M.E. ; Isengildina, O. ; Irwin, S.H. ; Good, D.L. - \ 2004
    Abstract To date, there is only fragmented and anecdotal information about the impact of the recommendations of market advisory services (MAS) on producers¿ decision-making. A conceptual framework is developed in which, among others, producers¿ risk attitudes and risk perceptions; producers¿ perceptions about MAS performance and delivery; and match between the MAS and the producer¿s marketing philosophy are hypothesized to influence the impact of MAS on producers¿ marketing decisions. Data from 656 U.S. producers were used and the impact of MAS on producers¿ marketing decisions was tested using an ordered probit model. The empirical results reveal that not only the perceived MAS performance, but also the way in which MAS recommendations are delivered, and the match between MAS and producer¿s marketing philosophy are important factors explaining the impact of MAS recommendations.
    The Impact of Market Advisory Service Recommendation on Producers' Marketing Decisions
    Pennings, J.M.E. ; Isengildina, O. ; Irwin, S. ; Good, D. - \ 2004
    Journal of Agricultural and Resource Economics 29 (2004)2 (August). - ISSN 1068-5502 - p. 308 - 327.
    risk management - information - extension - preferences - insurance - programs - attitude - farmers - utility
    A conceptual framework was developed that provides insight into the factors affecting the impact of these recommendations on producer pricing decisions. Data from 656 U.S. producers reveal that the perceived performance of the Market Advisory Services (MAS), the way in which MAS recommendations are delivered, as well as the match between MAS and producer's marketing philosophy are important factors explaining the impact of MAS recommendations. Risk attitude does not affect the impact of MAS recommendations on producers' decisions, indicating that producers are more interested in the price-enhancing characteristics of MAS advice than in its risk-reducing features.
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