New Blog contribution regarding Risk determinants of German dairy farms

New Blog contribution regarding Risk determinants of German dairy farms.

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New publication in the “European Review of Agricultural Economics”

New publication in the “European Review of Agricultural Economics” Finger, R., Dalhaus, T., Allendorf, J. and Hirsch, S. “Determinants of downside risk exposure of dairy farms".


We investigate determinants of dairy producers’ risk exposure using a unique combination of foci on (i) downside risks, (ii) a holistic representation of revenues from milk and animal sales, (iii) climatic extremes and (iv) the role of animal health. A sample of German dairy farms reveals that animal health and heat stress indicators influence mean and semi-variance of revenues. For instance, heat stress exposure reduces expected milk revenues significantly. In the case of animal health-related indicators, our results show trade-offs between expected revenues and downside risks. Furthermore, variabilities in revenues from milk and animal sales are significantly interrelated.

Newly appointed Tenure Track Professor for Agricultural and Food Economics

On April 1st, 2018, Stefan Hirsch joined the Technical University of Munich School of Management as a W2 Tenure Track Professor for Agriculture and Food Economics located at the Campus Weihenstephan of the Technical University of Munich. 

The professorship aims to improve the understanding of competitiveness and strategic actions of firms in the agricultural and food sector