Measuring Attitudes towards Risk among Small-Scale Pineapple Producers in Santander, Colombia

Uncertainty is the natural state in which farmers make decisions. This paper studies attitudes towards risk among small-scale pineapple producers in the department of Santander, Colombia. For this purpose a random sample of 194 small-scale pineapple producers form the towns of Giron, Lebrija and Rionegro was taken. In order to determine attitudes towards risk a nonlinear mean-standard deviation approach was chosen. Results indicate that small-scale pineapple producers in Santander are risk-averse and show an increasing absolute and a decreasing relative risk aversion.