Choice of crop protection technologies under risk: an expected utility maximization framework.
1992
Rola A.C. | Pingali P.L.
This paper presents an economic assessment of the various crop protection technologies, including complete control, economic threshold level (ETL), natural control and farmers' practice in an environment where farmers face production risk. Data were derived from experiments conducted by the Entomology Department of IRRI. Estimates of risk aversion parameters were used to define an expected utility function for farmers that was used in ranking stochastic pest control technologies. Results showed that natural control is superior in normal times. Changes in both input and output prices would make farmers' practice and natural control more dominant strategies in wet and dry seasons, respectively than the other two treatments, in terms of net benefit values.
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