This study investigates the effects of combinations of climate smart agricultural practices on risk exposure and cost of risk. We do this by examining the different risk components — mean, variance, skewness, and kurtosis — in a multinomial treatment effects framework by controlling weather variables for key stages of crop growth. We found that adoption of combinations of practices is widely viewed as a risk-reducing insurance strategy that can increase farmers’ resilience to production risk. The hypothesis of equality of weather parameters across crop development stages is also rejected. The heterogeneous effects of weather across crop growth stages have important implications for climate change adaptation to maximize quasi-option value. For a country that has the vision to build a climate-resilient economy, this knowledge is valuable to identify a combination of climate smart practices that minimizes production risk under variable weather conditions.

中文翻译：

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天气处于不同的增长阶段，多种实践和风险暴露：埃塞俄比亚的面板数据证据

这项研究调查了气候智能农业实践相结合对风险暴露和风险成本的影响。为此，我们通过控制作物生长关键阶段的天气变量，在多项处理效果框架中检查了不同的风险成分（均值，方差，偏度和峰度）。我们发现，采用多种实践组合被广泛认为是一种降低风险的保险策略，可以提高农民对生产风险的抵御能力。整个作物生长阶段的天气参数相等的假设也被拒绝了。在作物生长阶段，天气的异质性对适应气候变化以最大化准选择价值具有重要意义。对于一个有志建立气候适应型经济的国家来说，