Congratulations! FARE faculty Yu Na Lee in author team winning the 2020 Best Paper Award in Applied Risk Analysis.

Yu Na Lee, Assistant Professor with FARE since 2017, won the Best Paper Award in Applied Risk Analysis by Agricultural & Applied Economics Association, Applied Risk Analysis Section, with co-authors Marc Bellemare, University of Minnesota, and David Just, Cornell University, for their paper, “Producer Attitudes toward Output Price Risk: Experimental Evidence from the Lab and from the Field.” American Journal of Agricultural Economics. 102.3 (2020): 806-825.

 

This paper experimentally tests two important theoretical predictions about producers’ decisions when faced with output price risks: price risk at the extensive margin causes risk-averse producers to decrease production; and price risk at the intensive margin causes producers whose preferences exhibit decreasing absolute risk aversion to further decrease production. The committee’s selection was based on originality, quality of analysis and exposition, and broader impacts on policies and the economics field. Among the nominated papers, the committee felt that this paper stood out a little overall even though several other papers were also strong in these aspects and were close competitions of this paper.”

 

 Full paper.