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Microeconomic analysis of land use management under climate change with emphasis on risk and learning
Project
Project code: DFG FOR 1695
Contract period: 01.02.2012
- 31.01.2015
Purpose of research: Basic research
Recent research has shown that there is lack of knowledge on how learning with respect to complex issues, such as climate change, actually takes place on farms. The rate of adaptation to a changed environment is unclear. Thus, this subproject will extend the knowledge about learning strategies and the behaviour of farms. It is intended to implement different learning methods into the model (rational expectations, adaptive expectations, Bayesian updating) and to compare their effects on modelled behaviour. However, the empirical bases for these methods are weak. This deficit shall be closed by empirical investigations in the field as well as experiments with students who are familiar with farm management. These experiments allow for statistical analyses of different behaviour which will be used for the parameterisation of the corresponding farm models. Similarly, specific information on risk assessment and handling will be included in the model to facilitate analyses of farmers’ behaviour under a changing climate.
Section overview
Subjects
- Agroeconomics
- Climate Change
