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Erfassung von Zeitpräferenzen, Risikoeinstellungen und verhaltensökonomischen Effekten – Experimentelle Ansätze am Beispiel landwirtschaftlicher Unternehmer

Experimental approaches to measure farmers’ risk preferences, time preferences and cognitive biases

Daniel Hermann
Cumulative thesis
Date of Examination: 2016-02-08
Date of issue: 2016-03-01
Advisor: Mußhoff, Oliver Prof. Dr.
Referee: Mußhoff, Oliver Prof. Dr.
Referee: Spiller, Achim Prof. Dr.
Referee: Hirschauer, Norbert Prof. Dr.
Referee: Brandes, Wilhelm Prof. Dr.

Persistent Address: http://hdl.handle.net/11858/00-1735-0000-0028-86E2-D

 

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Abstract

English

This thesis contributes to the understanding of the economic decision making of farmers. In five chapters, different experimental investigations of preferences and cognitive biases are presented. Various experimental measures of risk and time preference are applied to analyze farmers’ decision-making behavior. Especially, the possibilities of field applications of these methods are evaluated. In addition, different effects of cognitive biases on framers’ decisions are investigated. Specifically, anchoring effects in experimental discount rate elicitation, anchoring effects in auctions as well as a status quo bias regarding the choice between the organic and conventional production method are investigated. The results contribute to the existing literature and may be interesting for farmers, politicians and researchers.
Keywords: time preferences; risk preferences; anchoring effect; status quo bias; magnitude effect
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