Abstract
Abstract With the advent of climate change, extreme weather events have become increasingly frequent and intense, posing significant challenges to agricultural systems worldwide. Farmers are among the most vulnerable groups, whose livelihoods depend heavily on weather-sensitive crops. In this paper, we assess if farmers adapt or maladapt after being exposed to extreme weather events and whether their perceived well-being determines their decisions. By analysing data about the farming practices and conditions of 970 farmers in Thailand, we examine the actions farmers implement which can be catalogued as adaptation or maladaptation actions. Although our results cannot specify an increase in adaptation or maladaptation actions after experiencing an extreme weather event, we reveal a notable rise in maladaptation with state aid for natural disasters. Similarly, we find that risk tolerance correlates with increased adaptation, while higher patience offsets this effect. JEL classification:
Published Version
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