Measuring farmer time preferences: A systematic literature review for Europe and North America

Published by:

FARM-D

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Online Location

https://onlinelibrary.wiley.com/doi/epdf/10.1002/jaa2.97

Publication date

16/11/2023

Language:

English

Type of Publication:

Articles & Journals

Focus Region:

Europe

Global

Focus Topic:

Agricultural Value Chains / Agri-Businesses

Author

David Wuepper, Severin Henzmann, Robert Finger

Organization

Journal of the Agricultural and Applied Economics Association

This article present the first systematic review of the literature on farmer time preference measurements across Europe and North America. It synthesizes methodological developments, summarizes the empirical findings, and discuss challenges and potential areas for further research. The average reported discount rate of the farmers in Europe and North America is 23% per annum. Farmer time preferences are, however, highly heterogeneous within and across studies. Moreover, methodological challenges and knowledge gaps are identified to be addressed in future research. The present article also draws conclusions for policymakers and researchers.