Determinants of Farmers’ Risk Aversion in Apricot Production in Turkey
In this study, calculating the risk aversion degree and estimating the factors affecting of risk aversion degree of
apricot farmers were aimed. Data used in the research were collected by the randomly selected 91 apricot farmers of Malatya
province of Turkey, which is primary apricot region in the whole world. In order to calculate the risk aversion and to
estimate the factors affecting of risk aversion degree Equally Likely Certainty Equivalent (ELCE) and ordered logit model
were utilized, respectively. Results of the research showed that mean risk aversion coefficient of farmers was 0.06.
Education level, experience, some risk factors and a risk strategy were affected the risk averse situation of farmers at
statistically significant. Off farm investment seems the major strategy for coping with risk.
Key words- risk averse, ELCE, factor analysis, agriculture, Malatya