Field of Research:
Risk attitude, time preference and loss aversion of farmers

Description of the research
The second phase of the C06 CRC will be divided into two working projects (WP). The first WP will mainly focus on the risk attitude, time preference and the rate of loss aversion of small scale oil palm farmers in Indonesia. The second WP will discuss about the response and acceptance of the small scale farmers towards the policy of ISPO and RSPO certification. The study findings of the first WP provide insights of the farmers´ behavioral economics which afterward will be used to make the ex-ante evaluation of their acceptance of ISPO and RSPO. Business simulation games will be employed to conduct the series of the research.