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| Ramaratnam, S. Sri; Rister, M. Edward; Bessler, David A.; Novak, James L.. |
| An analysis of risk attitudes for a sample of grain sorghum producers in the Texas Coastal Bend is reported. Four alternative functional forms were estimated on data elicited by the direct elicitation of utility approach. The exponential functional form described most producers' utility preferences better than other utility forms. Relationships between exponential risk measures and both producer attributes and farm characteristics, including interactions among them, were identified as significant. Risk aversion was found to diminish with more experience in farming and to increase with more leasing of farm land. Risk aversion was also found to decline with larger farm size and to increase with higher dependency of farm operators on farm income. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 1986 |
URL: http://purl.umn.edu/29768 |
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| Ramaratnam, S. Sri. |
| Static economic theory views the production and consumption sides of the economic environment separately as two unique activities. The distinction between the business and home aspects in the case of farming arose in economic theory and principles of analysis, especially because static theory assumes perfect knowledge, perfect foresight and the absence of change in production techniques and consumption patterns, and overlooks their interrelationships and interdependence when farmers are viewed both as producers and consumers. A great number of personal values, wants, and desires are encountered on the production side of farming and a major part of management consists of appraising the subjective costs and values of performing the various managerial... |
| Tipo: Thesis or Dissertation |
Palavras-chave: Farm Management. |
| Ano: 1981 |
URL: http://purl.umn.edu/11250 |
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