Risk aversion and emotions in the management of climate-related risks by fish farmers
Date
2015-06
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Chiang Mai University, Chiang Mai, Thailand
Abstract
This is a one-page draft towards an article drawing from a study that aims to understand attitudes and emotions around climate-related risks faced by fish cage farmers in northern Thailand. Findings show no significant difference in risk aversion with respect to gender, age or region. Farmers preferred making decisions in situations with known outcomes, but with sufficient capital they took more risks. Recently being impacted by floods or droughts, or being very concerned with climate change, was not associated with taking fewer risks. Using a simulation game, two standard measures of risk aversion did not predict risk taking behaviour.
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Keywords
CLIMATE CHANGE ADAPTATION, AQUACULTURE, RISK PERCEPTION, THAILAND, FAR EAST ASIA, FISH FARMING, BEHAVIOUR, SIMULATION