Izvorni znanstveni članak
https://doi.org/10.33128/ag.87.3.1
Assessment of risk preferences and willingness to engage in agriculture – an economic experiment among students of the University of Zagreb Faculty of Agriculture
Tajana Čop
orcid.org/0000-0002-1792-263X
; Agronomski fakultet Sveučilišta u Zagrebu, Zagreb, Hrvatska
Ivona Lugar
; studentica Agronomskog fakulteta Sveučilišta u Zagrebu, Zagreb, Hrvatska
Magdalena Zrakić Sušac
orcid.org/0000-0002-0577-1109
; Agronomski fakultet Sveučilišta u Zagrebu, Zagreb, Hrvatska
Mario Njavro
; Agronomski fakultet Sveučilišta u Zagrebu, Zagreb, Hrvatska
Sažetak
The research focuses on analysing the risk preferences and willingness of students at the University of Zagreb Faculty of Agriculture, to engage in agriculture after graduation. Agriculture, as a strategically important sector, faces challenges such as an ageing population, a lack of young people interested in the sector, and a negative perception of agriculture due to significant risks, low profitability, and weak infrastructural support. The aim of the study was to investigate whether risk preferences, loss aversion, and socio-demographic characteristics influence students' intentions to pursue a career in agriculture. The primary research was conducted through a survey of 66 graduate students at the Faculty of Agriculture in Zagreb. The survey included: (i) measurement of risk preferences using an experimental multiple price list method based on Prospect Theory; (ii) assessment of intention to engage in agriculture; and (iii) collection of socio-demographic characteristics of respondents. The parameters from Prospect Theory used for the analysis were sigma (𝜎) – risk attitude, alpha (α) – the shape of the probability weighting function, and lambda (λ) – loss aversion. The results show that, on average, students are risk-averse (𝜎 < 1) and tend to underweight large probabilities and overweight small probabilities (α < 1), which is reflected in the inverted S-shaped probability weighting function, and exhibit high loss aversion (λ > 1). These results are consistent with previous studies. In addition, the binary logistic regression analysis revealed that only prior experience in agriculture had a statistically significant influence on students’ intention to work in agriculture after graduation. The study concludes that greater practical experience in educational programmes could positively influence young people's willingness to pursue a career in agriculture. The results can serve as a basis for education and agricultural policy makers when developing measures to encourage young people's participation in the agricultural sector, such as more accessible financial support, training programmes, and entrepreneurial infrastructure.
Ključne riječi
risk preferences; agriculture, entrepreneurship; multiple price list; Prospect Theory
Hrčak ID:
343645
URI
Datum izdavanja:
30.12.2025.
Posjeta: 593 *