Representation of adaptation: The on-farm perspective (A05)

• Subject Area: Agricultural Economics, Agricultural Policy, Agricultural Sociology
• Term: since 2022
• Project identifier: Deutsche Forschungsgemeinschaft (DFG) - Project number 450058266

In A05, we aim at an improved representation of how farmers adapt to climate change, altering weather (extremes), production risk and efficiency, and ultimately expectations on farming returns. Despite these trends, farms seem reluctant to adapt their farming structure. Following the real options approach, we hypothesize that this reluctance can be explained by farms’ investment behaviour under risk and various sources of inefficiency. We test this hypothesis using observational data. To understand underlying cognitive decision processes under extreme hydrometeorological events, we test the impact of such perceived instances on farm adaptation decisions using an experimental approach.

• DFG Programme: Collaborative Research Centres
• Subproject of: SFB 1502: Regional Climate Change: Disentangling the Role of Land Use and Water Management
• Applicant Institution: Rheinische Friedrich-Wilhelms-Universität Bonn
• Project Heads: Professorin Dr. Silke Hüttel; Dr. Stefan Seifert