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When considering adoption or intensification of existing conservation practices, farmers have unique, subjective views of the associated risks. These individual risk perceptions could have important implications for conservation adoption or intensification. As a result, traditional policy approaches to encourage conservation agriculture may be inefficient. This study examines conservation adoption, with special consideration given to yield-risk perceptions. We present a conceptual model of perceived yield risk and estimate bivariate probit models using survey data. Results indicate that positive practice perceptions, particularly with respect to soil fertility, and opportunities for on-farm trialing may encourage adoption.