Optimal choices among alternative technologies with stochastic yield
Yassour, J.
Optimal choices among alternative technologies with stochastic yield - 1981 - Printed
13 ref
Extract: Understanding the process of technological adoption by farmers requires the explicit recognition of uncertainty and risk aversion. The purpose of this paper is to advance a new approach for investigating this process. This new framework, which is equally convenient and includes as a special case the linear mean-variance analysis, will be referred to as the exponential utility, moment-generating function approach (EUMGF). It will be demonstrated that this approach is, in many respects, superior to current approaches
English
0002-9092
Farm organization and management
82-808237
Optimal choices among alternative technologies with stochastic yield - 1981 - Printed
13 ref
Extract: Understanding the process of technological adoption by farmers requires the explicit recognition of uncertainty and risk aversion. The purpose of this paper is to advance a new approach for investigating this process. This new framework, which is equally convenient and includes as a special case the linear mean-variance analysis, will be referred to as the exponential utility, moment-generating function approach (EUMGF). It will be demonstrated that this approach is, in many respects, superior to current approaches
English
0002-9092
Farm organization and management
82-808237