This article investigates the stability of farmers’ risk attitude over time. To this end, we estimate responses to changes in agricultural policies and production shocks. We use a unique panel data of over 36,000 Italian farms specialised in cereals, during the period 1989–2009. We find evidence of risk preference changes over time in response to changes in the European Union Common Agricultural Policy and possibly after a drought-induced production shock. JEL classification: D1, Q12, Q18

中文翻译：

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风险态度、农业政策和生产冲击的稳定性：来自意大利的证据

本文考察了农民风险态度随时间的稳定性。为此，我们估计了对农业政策变化和生产冲击的反应。我们使用了 1989 年至 2009 年期间超过 36,000 个专门从事谷物的意大利农场的独特面板数据。我们发现了风险偏好随时间变化的证据，以响应欧盟共同农业政策的变化，并且可能是在干旱引起的生产冲击之后。JEL 分类：D1、Q12、Q18