Original scientific paper

Income Losses of Grape Growers and Wine Producers in Dalmatia—An Experimental Approach to Subjective Probability

Tajana Čop orcid.org/0000-0002-1792-263X ; Sveučilište u Zagrebu Agronomski fakultet, Zavod za menadžment i ruralno poduzetništvo, Svetošimunska cesta 25, 10 000 Zagreb, Hrvatska
Vesna Očić ; Sveučilište u Zagrebu Agronomski fakultet, Zavod za menadžment i ruralno poduzetništvo, Svetošimunska cesta 25, 10 000 Zagreb, Hrvatska
Branka Šakić Bobić ; Sveučilište u Zagrebu Agronomski fakultet, Zavod za menadžment i ruralno poduzetništvo, Svetošimunska cesta 25, 10 000 Zagreb, Hrvatska
Mario Njavro ; Sveučilište u Zagrebu Agronomski fakultet, Zavod za menadžment i ruralno poduzetništvo, Svetošimunska cesta 25, 10 000 Zagreb, Hrvatska

Abstract

Subjective probability research can be applied to risk assessment, but it can also be applied by the farmers as a good predictor of future decision. The aim of the paper was to investigate a subjective probability of income loss among the grape growers and wine producers in Dalmatia using an allocation task. The allocation task was conducted with a sample of seventy-one respondents. The basic results demonstrate that the sample mainly consisted of male respondents of an average age of forty-seven years and completed secondary vocational education. The Dalmatian grape growers and wine producers mostly have more than twenty years of experience in viticulture and wine production, and most of them cultivate between one and five hectares. The respondents were mostly optimistic about the loss of income, with 90.14% of them having expected the losses of up to 50%. The experimental approach had a practical value, as it provided an insight into the subjective risk perception of the respondents, which can serve as a basis for adapting the business strategies and insurance policies to respond to the challenges arising from potential income losses.

Keywords

grape growers and wine producers, Dalmatia, income, subjective probability, allocation task method

Hrčak ID:

319675

URI

https://hrcak.srce.hr/319675

Publication date:

20.7.2024.

Article data in other languages: croatian

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