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Optimal choices among alternative technologies with stochastic yield

By: Contributor(s): Material type: ArticleArticleLanguage: En Publication details: 1981ISSN:
  • 0002-9092
Subject(s): DDC classification:
  • 82-808237
 In: American Journal of Agricultural Economics v. 63, no. 4, p. 718-72382-808237Summary: 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
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Item type Current library Collection Call number Copy number Status Date due Barcode Item holds
Article CIMMYT Knowledge Center: John Woolston Library AGRIS Collection 82-808237 (Browse shelf(Opens below)) 1 Available 82-808237
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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

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