scholarly journals Do Social Networks have Effects on the Risk Attitude of Commercial Poultry Farmers? Evidence from Southwest Nigeria

2017 ◽  
Vol 38 (333) ◽  
pp. 2-13
Author(s):  
Oluwakemi Adeola Obayelu ◽  
Olukemi Olumuyiwa Olowe ◽  
Temitope Grace Faleye
Keyword(s):  
Social Capital ◽  
Social Networks ◽  
Risk Attitude ◽  
Small Scale ◽  
Poultry Production ◽  
Risk Averse ◽  
Reverse Causality ◽  
Risk Neutral ◽  
Commercial Poultry ◽  
Poultry Farmers

Abstract Poultry production decision setting is full of risk and imperfect information. Attitude towards risk is a measure of farmers’ willingness to take risks which is an important determinant in their production decisions. Strong social capital emanating from social networks can lead to efficient risk management strategies, thereby minimizing risks faced by the farmers. Therefore, the effects of social capital on the risk attitude of small-scale commercial poultry farmers in Oyo state were assessed. Data were collected from two hundred small-scale farmers and analysed using descriptive and inferential statistics, factorial analysis, multinomial logit and a two-stage least square. Results showed that 52.5%, 37.5% and 10% of the poultry farmers were risk averse, risk neutral and risk preferring, respectively. About 31.4% and 68.6% of the female and male farmers respectively were risk averse. Close to a fifth, a quarter and two-thirds of the risk averse, risk neutral and risk takers respectively contributed 21-30% of the decisions in the associations. Fourteen percent of the farmers belonged to homogeneous groups. The choice of being risk averse was affected by marital status, educational level, family size, percentage spent on poultry income and aggregate social capital. There was no reverse causality between risk attitude and social capital.

scholarly journals OPTIMAL OUTCOME SHARING WITH A CONSORTIUM OF CONTRACTORS

2015 ◽  
Vol 22 (5) ◽  
pp. 655-665 ◽  
Author(s):  
S. Mahdi HOSSEINIAN ◽  
David G. CARMICHAEL
Keyword(s):  
Risk Aversion ◽  
Risk Attitude ◽  
Risk Averse ◽  
Optimal Outcome ◽  
Original Solution ◽  
Project Outcome ◽  
Risk Neutral ◽  
Current Practices

Where a consortium of contractors is involved, there exist no guidelines in the literature on what the outcome sharing arrangement should be. The paper addresses this shortfall. It derives the optimal outcome sharing arrangement for risk-neutral and risk-averse contractors within the consortium, and between the consortium and a risk-neutral owner. Practitioners were engaged in a designed exercise in order to validate the paper’s propositions. The paper demonstrates that, at the optimum: the proportion of outcome sharing among contractors with the same risk-attitude should reflect the levels of their contributions; the proportion of outcome sharing among contractors with the same level of contribu­tion should be lower for contractors with higher levels of risk aversion; a consortium of risk-neutral contractors should receive or bear any favourable or adverse project outcome respectively; and the proportion of outcome sharing to a con­sortium of risk-averse contractors should reduce, and the fixed component of the consortium fee should increase, when the contractors become more risk-averse or the level of the project outcome uncertainty increases. The paper proposes an original solution to the optimal sharing problem in contracts with a consortium of contractors, thereby contributing to current practices in contracts management.

Cutoff Threshold Decisions for Classification Algorithms with Risk Aversion

2021 ◽  
Author(s):  
Andrea C. Hupman
Keyword(s):  
Risk Aversion ◽  
Risk Attitude ◽  
Classification Algorithm ◽  
Classification Algorithms ◽  
Risk Averse ◽  
Optimal Cutoff ◽  
Data Set ◽  
Risk Neutral ◽  
Bayes Algorithm ◽  
Cutoff Threshold

Classification algorithms predict the class membership of an unknown record. Methods such as logistic regression or the naïve Bayes algorithm produce a score related to the likelihood that a record belongs to a particular class. A cutoff threshold is then defined to delineate the prediction of one class over another. This paper derives analytic results for the selection of an optimal cutoff threshold for a classification algorithm that is used to inform a two-action decision in the cases of risk aversion and risk neutrality. The results provide insight to how the optimal cutoff thresholds relate to the associated costs and the sensitivity and specificity of the algorithm for both the risk neutral and risk averse decision makers. The optimal risk averse threshold is not reliably above or below the optimal risk neutral threshold, but the relation depends on the parameters of a particular application. The results further show the risk averse optimal threshold is insensitive to the size of the data set or the magnitude of the costs, but instead is sensitive to the proportion of positive records in the data and the ratio of costs. Numeric examples and sensitivity analysis derive further insight. Results show the percent value gap from a misspecified risk attitude increases as the specificity of the classification algorithm decreases.

scholarly journals Effect of Microcredit on Profit Efficiency of Small-Scale Poultry Farmers Oyo State, Nigeria

Agricultura ◽  
2021 ◽  
Vol 17 (1-2) ◽  
pp. 37-46
Author(s):  
Ronke Victoria Orimogunje ◽  
Ayodeji Sunday Ogunleye ◽  
Ayodeji Damilola Kehinde
Keyword(s):  
Stochastic Frontier ◽  
Tobit Model ◽  
Selection Model ◽  
Descriptive Statistics ◽  
Small Scale ◽  
Poultry Production ◽  
Profit Efficiency ◽  
Factors Influencing ◽  
Poultry Farmers ◽  
Significant Factors

This study investigated the effect of microcredit on profit efficiency of small-scale poultry farmers in Oyo State. Multistage sampling procedure was used to select two hundred poultry farmers for the study. Data collected were analysed using descriptive statistics, Heckman selection model, stochastic frontier and Tobit models. Result from descriptive statistics showed that men (78%) are predominantly involved in poultry production. The average age of poultry farmers in the area of study is approximately 43 years. Most of the farmers are married (77.5%) and literate (80.5%). Furthermore, most of the respondents (73.5%) had access to microcredit with 87.5% belonging to one farmer’s association or the other. Heckman two-stage selection model revealed that membership of cooperative/farmer’s association and contact with extension agent are the significant factors influencing farmer’s access to microcredit. The second stage of the model reveals that age, years of education, household size, years of farming experience, distance to source of microcredit, timeliness of microcredit and stock size are the significant factors influencing the amount of microcredit obtained by farmers. Results obtained from the stochastic frontier model showed that smallholder poultry farmers had an average profit efficiency of 54.0% in poultry production. Furthermore, the Tobit model (Model 1) results revealed that amount of microcredit, distance to source of microcredit, interest rate and loan repayment period significantly influenced farmer’s profit efficiency while in the second model, years of formal education, poultry farming experience and membership of cooperative/farmer’s association influenced farmer’s profit efficiency. The results of two-side censored Tobit model suggest that microcredit variables are the most favourable variables for line of action. This suggested that policy makers should ensure that microcredit available through the agricultural credit programmes get to the needy farmers.

scholarly journals Challenges of poultry production in Nigeria: A review

2020 ◽  
Vol 45 (1) ◽  
pp. 252-258
Author(s):  
F. U. Anosike ◽  
G. Z. Rekwot ◽  
O. B. Owoshagba ◽  
S. Ahmed ◽  
J. A. Atiku
Keyword(s):  
Poor Quality ◽  
Animal Protein ◽  
High Rate ◽  
Poultry Feed ◽  
Small Scale ◽  
Poultry Production ◽  
Supply Source ◽  
Human Needs ◽  
Foreign Earnings ◽  
Poultry Farmers

This study provides a review on the challenges facing poultry production in Nigeria and the possible solution. The study considered the socio-economic roles of poultry to include; means of livelihood and a way of achieving a certain level of economic independence, meeting human needs for dietary animal protein supply, source of foreign earnings and opportunities for saving, investment and security against risks for small-scale poultry farmers. This paper reviewed the challenges of poultry production in Nigeria and how the rate of production in the industry has slowed down. These challenges included; high rate of disease and pest attack, lack of loan and credit procurement, lack of technical knowledge, high rate of mortality, high cost of poultry feed, supply of poor quality chicks, inadequate poultry extension services, and inadequate access to and high cost of veterinary services, as reported by Possible solutions to these challenges are not farfetched, which included; intervention of veterinary in order to cub losses due to diseases, technical know-how for improving production should be made available to poultry keepers through extension service, poultry farmers should be encouraged to form cooperative societies or join existing one to be able to access loan for their business and addressing these challenges will prove vital to increase production, increase animal protein availability and consumption, and reduce the rate of food insecurity.

scholarly journals Why and How Does a Supplier Choose Factoring Finance?

2020 ◽  
Vol 2020 ◽  
pp. 1-14
Author(s):  
Chunying Tian ◽  
Dongyan Chen ◽  
Zhaobo Chen ◽  
Ding Zhang
Keyword(s):  
Supply Chain ◽  
Credit Risk ◽  
Trade Credit ◽  
Risk Attitude ◽  
Decision Models ◽  
Risk Averse ◽  
Financial Benefit ◽  
Risk Neutral

Suppliers offering trade credit to the downstream retailers have to face many problems, such as receivables management, capital occupancy, and buyer’s credit risk. Many of them choose factoring finance to solve those problems simultaneously. This paper develops several supply chain decision models to show the benefits a supplier can obtain from the main functions of factoring and how he should choose between recourse factoring and nonrecourse factoring. In particular, we identify the conditions on which factoring may bring benefits (including financial benefit, guarantee benefit, and receivables management benefit) to the supplier. The supplier’s choice between recourse and nonrecourse factoring relies on his risk attitude. Given that the supplier is risk-neutral and the factoring fees are acceptable, recourse factoring is preferred when the factoring finance ratio is relatively high; otherwise, nonrecourse factoring is preferred. However, if the supplier is risk-averse, his preference for the two factoring schemes under different finance ratios may change when the risk constraints become stricter. If the target profit is lower than a certain level, the supplier’s financial choice will switch from recourse factoring to nonrecourse factoring in the case finance ratio is relatively low; otherwise, his financial choice switches from nonrecourse factoring to recourse factoring in the case finance ratio is relatively high.

scholarly journals Adoption of biosecurity for disease prevention and control by poultry farmers in Imo State, Nigeria

2021 ◽  
Vol 18 (2) ◽  
pp. 85-97
Author(s):  
C. M Tasie ◽  
G. I. Wilcox ◽  
A. E. Kalio
Keyword(s):  
Disease Prevention ◽  
Prevention And Control ◽  
Farm Size ◽  
Small Scale ◽  
Poultry Production ◽  
Sources Of Information ◽  
Imo State ◽  
Poultry Farmers ◽  
Biosecurity Practices ◽  
And Control

The study assessed the adoption of biosecurity for disease prevention and control by poultry farmers in Imo State. The objectives of study were to: ascertain the socio - economic characteristics of poultry farmers in Imo State; identify sources of informationon biosecurity measures adopted by poultry farmers for disease prevention and control in Imo State; ascertain biosecurity measures adopted by poultry farmers for disease prevention and control in Imo State; determine factors influencing adoption of biosecurity practices. A research survey of 60 owners and managers of poultry farms was used. A multi-stage sampling technique was used to select samples for the study and data were analysed using descriptive and inferential statistics (Logit regression). The study revealed that most of the poultry farmers in the study area were male and married and that these farmers were still intheiractiveandproductiveageand most of them were educated. Majority of the poultry farmers in the study area were micro and small scale farmers and have considerable experience in poultry production and are members of farmers’ groups with profit motive as their farming enterprise objective. Majority of the poultry farmers had training in livestock management and most of the respondents did not receive any extension visit for the past two years up to the date of data collection and that the practice of biosecurity in the study area is high. Farmers association, veterinary officers, Internet and researchers are the significant sources of information on biosecurity to the poultry farmers in the study area. Age, cooperative membership, experience in poultry farming, training, farm size, education and access to credit significantly influenced the adoption of biosecurity practices in the study area. Any increase in the level of these variables would increase the level of adoption of biosecurity practices for disease prevention and control in the study area. Based on the findings of the this study, it is recommended that aggressive sensitization of the poultry farmers through seminars, workshops and conferences by relevant authorities on the advantages of adoption of biosecurity measures in their farms and encouraging fellow farmers to do so.

Biosecurity practices in commercial poultry farms located in ElFashir Locality- Sudan

2021 ◽  
Vol 1 (1) ◽  
pp. 033-043
Author(s):  
Sami Ahmed Mohammed Arabi ◽  
Mohammed Ahmed Eltayeb Gumaa
Keyword(s):  
Traffic Control ◽  
Feed Consumption ◽  
Poultry Production ◽  
Control Measurement ◽  
Poultry Farms ◽  
Commercial Poultry ◽  
Poultry Farmers ◽  
Biosecurity Practices ◽  
Cleaning And Disinfection ◽  
Risk Limits

This study was conducted to assess the biosecurity practices in commercial poultry farms in the locality of ElFashir, North Darfur State Sudan. Thirty two farms biosecurity tests were used, biosecurity practices were evaluated in poultry farms using the checklist and organized questionnaires administered to commercial poultry farmers. Simple descriptive statistics were used (frequencies and percentages) to summarize and display the results. The results showed that 62.5% of the farms used the floor brooding system of the birds; 59.4% open barns; The domestic stock in access to the farm site 68.8%; Pets or wildlife birds have access to inside of barns or feed storage 71.9%; yearly water quality is not checked by a reputable laboratory 96.9%; employees have routine contact with other poultry species 84.4%; regular cleaning and disinfection of feeders and drinkers washing is done mainly by soap in addition to water. 43.8%; employees and their families with other people on poultry housing site 100%; poultry production, feed consumption, and mortality records are kept, but not reviewed daily 18.8%; there is untrimmed vegetation and debris within barn(s) 81.2%; vehicle flow designated way traffic onto premises and off premises 100% and perimeter fencing and gate present but not always locked or guarded or fence not completed 56.25%. The study concluded that there is a severe weakness in the application of biosecurity practices in its three branches isolation, cleaning disinfecting and traffic control. The adopted hygiene and traffic control measurement were all within the high and medium biosecurity risk limits whereas mismanagement resembled 60.4% the highest risk of biosecurity practices among the studies in commercial poultry farms of ElFashir Locality. Therefore, it is strongly recommended for local authorities to intervene with qualified teams of poultry professional and experts to train poultry farmers, managers and attendees on importance of implementing sound biosecurity practices.

scholarly journals Small Scale Poultry Farmers’ Choice of Adaption Strategies to Climate Change in Ogun State, Nigeria

2018 ◽  
Vol 40 (335) ◽  
pp. 32-40 ◽  
Author(s):  
Abimbola O. Adepoju ◽  
Precious P. Osunbor
Keyword(s):  
Climate Change ◽  
Household Size ◽  
Adaptation Strategies ◽  
Housing System ◽  
Farm Size ◽  
Small Scale ◽  
Poultry Production ◽  
Extension Services ◽  
Factors Influencing ◽  
Poultry Farmers

Abstract Climate risks constitute an enormous challenge to poultry production and have affected the livelihoods of the people who depend on them. Thus, farmers have adopted various strategies that can help them cope with the adverse effects of climate change. The aim of this study is to examine the factors influencing small scale poultry farmers’ choice of adaptation strategies to climate change. Data used for this study were obtained from 121 representative farmers selected through a two-stage random sampling procedure. Descriptive Statistics, Likert Scale and the Multinomial Logit Model were the tools used for analysis. Results showed that the mean age and household size of the respondents were 45 years and 5 persons respectively, while the average number of birds per farmer stood at 583 birds. Majority of the respondents had a moderate perception of the impacts of climate change on poultry farming and chose management adaptation strategies in their fight against climate change. Econometric analysis showed that the age, gender and educational status of farmers, number of birds, household size, poultry experience, access to cooperative societies, poultry housing system, access to credit, access to extension services and farm size were the factors influencing farmers’ choice of climate change adaptation strategies in the study area. Therefore, policy should focus on awareness creation on management adaptation strategies through enhancing education and extension services as well as access of poultry farmers to credit facilities to indirectly insure farmers against climate change impacts.

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