Eliciting farmers' risk and uncertainty preferences using contextualized field experiments in developing countries: a pilot study

In this chapter, we use a novel approach to elicit risk and uncertainty preferences using contextualized field experiments in developing countries. The elicitation of uncertainty preferences relies on the use of elicited subjective probability distributions. The approach presented here is based on implementing incentivized and incentive-compatible mechanisms for eliciting beliefs and preferences. We present results from a pilot study conducted in Zimbabwe with a sample of horticultural producers. Our contextualization relates to price risk mitigation and contract farming.