정보의 활용도에 따른 육계농가의 리스크 프리미엄 변화와 경영안정 효과 분석An Analysis of the Change in Broiler-breeding Farmers’ Risk Premium Based on the Availability of Information for Enhancing Managerial Stability
- Other Titles
- An Analysis of the Change in Broiler-breeding Farmers’ Risk Premium Based on the Availability of Information for Enhancing Managerial Stability
- Authors
- 남경수; 안병일
- Issue Date
- 2020
- Publisher
- 한국농식품정책학회
- Keywords
- Vertical Integration; Expected Profit; Certainty Equivalent; Risk-aversion Coefficient; Volatility of Profit; Vector Error Correction Model
- Citation
- 농업경영.정책연구, v.47, no.2, pp.268 - 287
- Indexed
- KCI
- Journal Title
- 농업경영.정책연구
- Volume
- 47
- Number
- 2
- Start Page
- 268
- End Page
- 287
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/59650
- ISSN
- 1229-9154
- Abstract
- This study focuses on the ways for stabilizing broiler-breeding farmers' profits through the vertical integration. When broiler-breeders use price information of broiler and production inputs, the risk premium decrease due to the declining volatility of profit. In other words, volatility and risk premium turn out to have a positive relationship, therefore risk-aversion coefficient is estimated to have a positive relationship with risk premium.
The risk premium for the scenarios that assume farmers use the least amount of information is estimated to be 7.0~30.4 won per broiler depending on the risk-aversion coefficient and the risk premium for the scenarios that posit farmers use the most information is estimated to be 3.4~15.0 won per broiler.
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Collections - College of Life Sciences and Biotechnology > Department of Food and Resource Economics > 1. Journal Articles
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