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Home
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Working Papers
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Risk attitudes in viticulture: the case of French winegrowers

Working Paper No. 224

Published: 2018
Category:
Economics

Risk attitudes in viticulture: the case of French winegrowers

Joël Akay, Adeline Alonso Ugaglia & Jean-Marie Lescot
Full Text PDF
Abstract
The aim of this paper is to analyze risk attitudes of winegrowers in France. An inter- esting feature of French viticulture is that most of the production is carried out under an appellation regime, bearing constraints in terms of maximal yield authorized. We estimate a translog cost function under the constraint of this maximal yield. We jointly estimate cost function parameters, factor share equations and winegrowers’ attitudes to the risk function. Our estimates are based on the FADN database (2005-2014), data from the National Cultural Practices survey (2006, 2010, 2013), data from the French National Institute of Origin and Quality (INAO) and data from guides on production costs in viticulture and œnology (from 2005 to 2014). We find that pesticide demand is inelastic and all types of winegrowers are risk-averse. For the majority of them, risk aversion declines with expected profit (DARA), but for the Champagne region, it is the contrary. Expected profit is far higher than in the other regions and these winegrowers are more averse to risk when expected profit increases (IARA).

Submission

Please send your papers as PDF files to the editor, Victor Ginsburgh, at vginsbur@ulb.ac.be
Papers will be quickly reviewed, prior to potential posting on the website. Decision will be to post or not, possibly with short comments, but without referee reports. The decision will be based primarily on the suitability of the paper’s topic to the aims of the Association.
Such decisions are independent of publication decisions for the Journal of Wine Economics.

Working Paper publication requires that at least one author
is a regular member of AAWE.

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