Abstract
AbstractThis paper explores the mechanisms of risk preference, risk awareness and farmers' willingness to adopt water‐saving irrigation techniques in response to government subsidies. Data, collected from farmers in Gansu Province, China, were analysed using mediation and moderation effect models. The empirical evidence from this study indicates that willingness to adopt water‐saving irrigation techniques increased with an increase in government subsidies but decreased with risk awareness due to farmers' attitude of risk preferences. Secondly, the interaction between farmers' risk awareness and risk preference determines their willingness to adopt water‐saving irrigation techniques where risk awareness plays an intermediary role in both cases. Nevertheless, the cautionary role of risk awareness is more obvious, so risk‐averse farmers are significantly less willing to adopt irrigation techniques than risk preference farmers. Also, government subsidies have a significant moderating effect on farmers' risk preferences and risk awareness irrespective of their usage of farming techniques.
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