Application of risk preference estimates in firm-household and agricultural sector models
Material type: ArticleLanguage: En Publication details: 1982ISSN:- 0002-9092
- 83-879792
Item type | Current library | Collection | Call number | Copy number | Status | Date due | Barcode | Item holds | |
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Article | CIMMYT Knowledge Center: John Woolston Library | AGRIS Collection | 83-879792 (Browse shelf(Opens below)) | 1 | Available | 83-879792 |
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Extract: Prolific advances have been made in the development of single period, optimization models for planning farm production under risk. These models are reviewed and placed within the context of the theory of the joint firm-household, which has recently spawned a number of econometric models of farm households. At the sector level, mathematical programming models provide the most explicit way of modelling aggregate risk behavior. But there is a growing literature on econometric supply models which embody some forms of risk behavior
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