Data/hora: 16/06/2024 00:19:46

Provedor de dados: | Research in Agricultural & Applied Economics (AgEcon Searh)
País: | United States
Título: | RISK PERCEPTION AND THE ANALYSIS OF RISK ATTITUDES
Autores: | Quiggin,   John C.
Data: | 2006-11-06
Ano: | 1981
Palavras-chave: | Risk and Uncertainty.
Resumo: | Risk has long been recognised as an important feature of the environment facing farmers. In recent years the von Neumann-Morgenstern expected utility theory has been used to analyse decision making under risk. However, many people behave in a manner inconsistent with the expected utility theory. One widely suggested explanation is based on subjective probability distortion. A number of attempts to incorporate this phenomenon into utility theories have been made. In this paper, the problems of analysing subjective probability distortion are discussed. Evidence from a survey of farmers' risk attitudes undertaken in conjunction with the 1977 BAE Australian Agricultural and Grazing Industries Survey is analysed in the light of this discussion.
Tipo: | Journal Article
Idioma: | Inglês

Identificador:

24343

http://purl.umn.edu/22866

Editor: | AgEcon Search
Relação: | Australian Journal of Agricultural Economics&gt;Volume 25, Number 02, August 1981

Formato:

10

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