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Risk, Uncertainty and Farm Management Decisions AgEcon
Officer, R.R.; Anderson, Jock R..
The objective of this paper is to give a brief exposition of the decision criteria commonly propounded for decisions under risk and uncertainty. The review of these criteria in the context of farm management decisions reiterates the inappropriateness of all except the expected utility hypothesis, and it is concluded that utility analysis has considerable potential as an operational tool in farm management.
Tipo: Journal Article Palavras-chave: Farm Management; Risk and Uncertainty.
Ano: 1968 URL: http://purl.umn.edu/9109
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RISK, UTILITY AND THE PALATABILTY OF EXTENSION ADVICE TO FARMER GROUPS AgEcon
Officer, R.R.; Halter, A.N.; Dillon, John L..
Using the results of an empirical study of farmers' utility functions, evidence is presented that risk plays a measurable role in farmer decision making. The extension implications of such risk influences are discussed with particular emphasis on the possible efficacy of using group utility functions as a basis for group recommendations.
Tipo: Journal Article Palavras-chave: Teaching/Communication/Extension/Profession.
Ano: 1967 URL: http://purl.umn.edu/22753
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