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Socio economic analysis of risk aversion strategies among potato farmers in Mangu Local Government Area of Plateau State, Nigeria
Abstract
The study analyzed the risk aversion strategies among potato farmers in Mangu Local Government Area of Plateau State. One hundred (100) potato producing households were randomly selected across four randomly
chosen districts. Twenty five (25) structured questionnaires were administered in each of the districts. Data were analyzed using descriptive statistics and logit regression model. Findings revealed that the respondents employed different risk management strategies such as enterprise diversification and timeliness of farm operations to avert crop losses. The result of the logit regression showed that the coefficients of age, income and educational status of the farmers were positive. The marginal effects of the independent variables on the dependent variable revealed that on the average, a one percent increase in age, income and educational status of the respondents leads to an increase in the probability of the deliberate employment of risk aversion strategies on their farms, holding all else constant.
chosen districts. Twenty five (25) structured questionnaires were administered in each of the districts. Data were analyzed using descriptive statistics and logit regression model. Findings revealed that the respondents employed different risk management strategies such as enterprise diversification and timeliness of farm operations to avert crop losses. The result of the logit regression showed that the coefficients of age, income and educational status of the farmers were positive. The marginal effects of the independent variables on the dependent variable revealed that on the average, a one percent increase in age, income and educational status of the respondents leads to an increase in the probability of the deliberate employment of risk aversion strategies on their farms, holding all else constant.
