Abstract
Abstract Surviving prolonged water scarcity in agriculture requires farmers to be resilient along multiple dimensions. Farmers may aim to attain resilience from financial as well as natural capital perspectives. In this paper, a model of multi-dimensional resilience is developed which incorporates risk reduction and wealth accumulation as farmers' key survival strategies. Findings indicate that the relative choice over risk reduction and wealth accumulation strategies varies depending upon whether the farmer is groundwater resilience seeking type or financial resilience seeking type. Also, as the level of risks increases, the financial resilience seeking type farmer may exhibit a non-linear pattern of tradeoff between risk reduction and wealth accumulation behavior. At lower levels of risks, the farmer's optimal response is to reduce risk further with a marginal increase in the exogenous component of the risk. However, at higher levels of risk, more wealth is accumulated as the exogenous component of the risk increases.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
