Reference points and risky decision-making in agricultural trade firms: A case study in Germany

Arbeitspapier

Due to the increased uncertainty within the whole agribusiness industry, managerial decision-making has become a critical success factor during the last decades. Since agricultural trade firms are faced with multiple existence-threatening risks today, the present paper analyzes decision-making processes under dramatically tightened external conditions, using the exam-ple of Germany's agricultural trade industry. By employing a qualitative research design, the empirical study examines two questions: Which determinants do impact the farm dealers' risky decision-making, and how are these factors interacting? For clarifying these issues, guideline-based in-depth interviews with industry experts are conducted on the basis of a thorough literature review. The results, gained from a qualitative content analysis, help us to better understand how decisions in farm dealing firms are made and which forces are driving them. As especially a decision maker's reference point plays a prominent role, the present study examines its configuration under different situational and dispositive conditions. The resulting implications provide a useful basis for further research and to a lesser extent some insights for decision makers themselves.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Diskussionsbeitrag ; No. 1609

Classification and Topics

• Classification: Wirtschaft
• Subject: agricultural trade ; reference points ; risky decision-making ; qualitative case study design

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Gollisch, Simon ; Hedderich, Barbara ; Theuvsen, Ludwig
• Event: Veröffentlichung
• (who): Georg-August-Universität Göttingen, Department für Agrarökonomie und Rurale Entwicklung (DARE)
• (where): Göttingen
• (when): 2016

Further information

• Handle: http://hdl.handle.net/10419/147502
• Last update: 10.03.2025, 11:45 AM CET