Examining the Impact of Socio-demographic and Farm-related Factors on Risk Perception: A Study on Farmers of Punjab Region, India

Description

Akhil Chawla and Navdeep Aggarwal (School of Business Studies, Punjab Agricultural University, Ludhiana, Punjab)

This study explores the impact of various socio-demographic and farm-related factors on risk perception of 480 respondent farmers of Punjab, India, using multiple linear regression analysis. Punjab was divided into three geographical zones, namely, Majha, Malwa, and Doaba. Socio-demographic and farm characteristics such as age, education, annual income, land area cultivated and experience were used to measure the impact of risk perception of respondent farmers. A structured questionnaire was utilised to gather data, and the results were further analysed through a multiple linear regression model. The results of the study are helpful for policymakers and agricultural extension services providers, highlighting the importance of providing education to young, less experienced and tenant farmers, so that they can manage agricultural risks more efficiently and effectively.