Table A8. Open in new tab Robustness:...

	CRRA (robustness: no inconsistent behaviour)^a	CRRA (robustness: first switch)
Lottery incentivised	−0.17**	N = 1,066	−0.18	N = 1,435
	[0.02]	(7)	[0.43]	(9)
Lottery with agricultural framing	0.00		0.00*
	[0.92]		[0.06]
Age	0.00	N = 1,053	0.00	N = 1,415
	[0.29]	(7)	[0.28]	(9)
Male farmer	−0.03	N = 1,059	−0.08	N = 1,345
	[0.69]	(7)	[0.37]	(8)
Higher education	−0.02	N = 575	0.03	N = 865
	[0.71]	(5)	[0.75]	(7)
Rented land ratio	0.03	N = 435	0.05	N = 501
	[0.87]	(3)	[0.10]	(3)
Workforce	0.13	N = 1,066	0.19	N = 1,435
	[0.12]	(7)	[0.11]	(9)
Off-farm work	0.03	N = 465	0.02	N = 560
	[0.67]	(3)	[0.72]	(3)
Farm income reliance	−0.10	N = 461	−0.13	N = 646
	[0.12]	(3)	[0.12]	(4)
Successor arranged	−0.05	N = 346	−0.01	N = 404
	[0.17]	(2)	[0.76]	(2)
Organic	−0.05	N = 667	0.00	N = 902
	[0.65]	(5)	[0.99]	(6)
(25,50) hectares	0.03	N = 925	−0.06
	[0.32]	(6)	[0.47]	N = 1,186
(50,75) hectares	−0.03		−0.06	(7)
	[0.71]		[0.54]
(75,100) hectares	−0.05		−0.10
	[0.56]		[0.25]
(100,150) hectares	−0.20		−0.21*
	[0.18]		[0.08]
(150,250) hectares	0.01		−0.07
	[0.94]		[0.40]
More than 250 hectares	−0.03		−0.07
	[0.74]		[0.60]
Mixed	−0.02	N = 466	−0.03	N = 730
	[0.84]	(3)	[0.45]	(5)
Livestock (e.g. dairy)	0.31		0.29
	[0.46]		[0.24]
Dummy of study	✓		✓
Lottery incentivised	✓		✓
Lottery with agric. framing	✓		✓

CRRA (robustness: no inconsistent behaviour)^a

CRRA (robustness: first switch)

Dependent variable

Coefficient

Observations

Coefficient

Observations

Lottery incentivised

−0.17**

N = 1,066

−0.18

N = 1,435

[0.02]

(7)

[0.43]

(9)

Lottery with agricultural framing

0.00

0.00*

[0.92]

[0.06]

Age

0.00

N = 1,053

0.00

N = 1,415

[0.29]

(7)

[0.28]

(9)

Male farmer

−0.03

N = 1,059

−0.08

N = 1,345

[0.69]

(7)

[0.37]

(8)

Higher education

−0.02

N = 575

0.03

N = 865

[0.71]

(5)

[0.75]

(7)

Rented land ratio

0.03

N = 435

0.05

N = 501

[0.87]

(3)

[0.10]

(3)

Workforce

0.13

N = 1,066

0.19

N = 1,435

[0.12]

(7)

[0.11]

(9)

Off-farm work

0.03

N = 465

0.02

N = 560

[0.67]

(3)

[0.72]

(3)

Farm income reliance

−0.10

N = 461

−0.13

N = 646

[0.12]

(3)

[0.12]

(4)

Successor arranged

−0.05

N = 346

−0.01

N = 404

[0.17]

(2)

[0.76]

(2)

Organic

−0.05

N = 667

0.00

N = 902

[0.65]

(5)

[0.99]

(6)

(25,50) hectares

0.03

N = 925

−0.06

[0.32]

(6)

[0.47]

N = 1,186

(50,75) hectares

−0.03

−0.06

(7)

[0.71]

[0.54]

(75,100) hectares

−0.05

−0.10

[0.56]

[0.25]

(100,150) hectares

−0.20

−0.21*

[0.18]

[0.08]

(150,250) hectares

0.01

−0.07

[0.94]

[0.40]

More than 250 hectares

−0.03

−0.07

[0.74]

[0.60]

Mixed

−0.02

N = 466

−0.03

N = 730

[0.84]

(3)

[0.45]

(5)

Livestock (e.g. dairy)

0.31

0.29

[0.46]

[0.24]

Dummy of study

✓

Lottery incentivised

✓

Lottery with agric. framing

✓

	CRRA (robustness: no inconsistent behaviour)^a	CRRA (robustness: first switch)
Lottery incentivised	−0.17**	N = 1,066	−0.18	N = 1,435
	[0.02]	(7)	[0.43]	(9)
Lottery with agricultural framing	0.00		0.00*
	[0.92]		[0.06]
Age	0.00	N = 1,053	0.00	N = 1,415
	[0.29]	(7)	[0.28]	(9)
Male farmer	−0.03	N = 1,059	−0.08	N = 1,345
	[0.69]	(7)	[0.37]	(8)
Higher education	−0.02	N = 575	0.03	N = 865
	[0.71]	(5)	[0.75]	(7)
Rented land ratio	0.03	N = 435	0.05	N = 501
	[0.87]	(3)	[0.10]	(3)
Workforce	0.13	N = 1,066	0.19	N = 1,435
	[0.12]	(7)	[0.11]	(9)
Off-farm work	0.03	N = 465	0.02	N = 560
	[0.67]	(3)	[0.72]	(3)
Farm income reliance	−0.10	N = 461	−0.13	N = 646
	[0.12]	(3)	[0.12]	(4)
Successor arranged	−0.05	N = 346	−0.01	N = 404
	[0.17]	(2)	[0.76]	(2)
Organic	−0.05	N = 667	0.00	N = 902
	[0.65]	(5)	[0.99]	(6)
(25,50) hectares	0.03	N = 925	−0.06
	[0.32]	(6)	[0.47]	N = 1,186
(50,75) hectares	−0.03		−0.06	(7)
	[0.71]		[0.54]
(75,100) hectares	−0.05		−0.10
	[0.56]		[0.25]
(100,150) hectares	−0.20		−0.21*
	[0.18]		[0.08]
(150,250) hectares	0.01		−0.07
	[0.94]		[0.40]
More than 250 hectares	−0.03		−0.07
	[0.74]		[0.60]
Mixed	−0.02	N = 466	−0.03	N = 730
	[0.84]	(3)	[0.45]	(5)
Livestock (e.g. dairy)	0.31		0.29
	[0.46]		[0.24]
Dummy of study	✓		✓
Lottery incentivised	✓		✓
Lottery with agric. framing	✓		✓

Table A8.

Open in new tab

Robustness: CRRA to inconsistent behaviour

	CRRA (robustness: no inconsistent behaviour)^a		CRRA (robustness: first switch)
Dependent variable	Coefficient	Observations	Coefficient	Observations
Lottery incentivised	−0.17**	N = 1,066	−0.18	N = 1,435
	[0.02]	(7)	[0.43]	(9)
Lottery with agricultural framing	0.00		0.00*
	[0.92]		[0.06]
Age	0.00	N = 1,053	0.00	N = 1,415
	[0.29]	(7)	[0.28]	(9)
Male farmer	−0.03	N = 1,059	−0.08	N = 1,345
	[0.69]	(7)	[0.37]	(8)
Higher education	−0.02	N = 575	0.03	N = 865
	[0.71]	(5)	[0.75]	(7)
Rented land ratio	0.03	N = 435	0.05	N = 501
	[0.87]	(3)	[0.10]	(3)
Workforce	0.13	N = 1,066	0.19	N = 1,435
	[0.12]	(7)	[0.11]	(9)
Off-farm work	0.03	N = 465	0.02	N = 560
	[0.67]	(3)	[0.72]	(3)
Farm income reliance	−0.10	N = 461	−0.13	N = 646
	[0.12]	(3)	[0.12]	(4)
Successor arranged	−0.05	N = 346	−0.01	N = 404
	[0.17]	(2)	[0.76]	(2)
Organic	−0.05	N = 667	0.00	N = 902
	[0.65]	(5)	[0.99]	(6)
(25,50) hectares	0.03	N = 925	−0.06
	[0.32]	(6)	[0.47]	N = 1,186
(50,75) hectares	−0.03		−0.06	(7)
	[0.71]		[0.54]
(75,100) hectares	−0.05		−0.10
	[0.56]		[0.25]
(100,150) hectares	−0.20		−0.21*
	[0.18]		[0.08]
(150,250) hectares	0.01		−0.07
	[0.94]		[0.40]
More than 250 hectares	−0.03		−0.07
	[0.74]		[0.60]
Mixed	−0.02	N = 466	−0.03	N = 730
	[0.84]	(3)	[0.45]	(5)
Livestock (e.g. dairy)	0.31		0.29
	[0.46]		[0.24]
Dummy of study	✓		✓
Lottery incentivised	✓		✓
Lottery with agric. framing	✓		✓

	CRRA (robustness: no inconsistent behaviour)^a		CRRA (robustness: first switch)
Dependent variable	Coefficient	Observations	Coefficient	Observations
Lottery incentivised	−0.17**	N = 1,066	−0.18	N = 1,435
	[0.02]	(7)	[0.43]	(9)
Lottery with agricultural framing	0.00		0.00*
	[0.92]		[0.06]
Age	0.00	N = 1,053	0.00	N = 1,415
	[0.29]	(7)	[0.28]	(9)
Male farmer	−0.03	N = 1,059	−0.08	N = 1,345
	[0.69]	(7)	[0.37]	(8)
Higher education	−0.02	N = 575	0.03	N = 865
	[0.71]	(5)	[0.75]	(7)
Rented land ratio	0.03	N = 435	0.05	N = 501
	[0.87]	(3)	[0.10]	(3)
Workforce	0.13	N = 1,066	0.19	N = 1,435
	[0.12]	(7)	[0.11]	(9)
Off-farm work	0.03	N = 465	0.02	N = 560
	[0.67]	(3)	[0.72]	(3)
Farm income reliance	−0.10	N = 461	−0.13	N = 646
	[0.12]	(3)	[0.12]	(4)
Successor arranged	−0.05	N = 346	−0.01	N = 404
	[0.17]	(2)	[0.76]	(2)
Organic	−0.05	N = 667	0.00	N = 902
	[0.65]	(5)	[0.99]	(6)
(25,50) hectares	0.03	N = 925	−0.06
	[0.32]	(6)	[0.47]	N = 1,186
(50,75) hectares	−0.03		−0.06	(7)
	[0.71]		[0.54]
(75,100) hectares	−0.05		−0.10
	[0.56]		[0.25]
(100,150) hectares	−0.20		−0.21*
	[0.18]		[0.08]
(150,250) hectares	0.01		−0.07
	[0.94]		[0.40]
More than 250 hectares	−0.03		−0.07
	[0.74]		[0.60]
Mixed	−0.02	N = 466	−0.03	N = 730
	[0.84]	(3)	[0.45]	(5)
Livestock (e.g. dairy)	0.31		0.29
	[0.46]		[0.24]
Dummy of study	✓		✓
Lottery incentivised	✓		✓
Lottery with agric. framing	✓		✓

Estimations exclude surveys that enforce monotonicity because, by design, inconsistent behaviour cannot be identified. Significance *** p<0.01, ** p<0.05, * p<0.10

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