| Author: | Chavas, J.-P. Holt, M. |
| Title: | Economic behavior under uncertainty: a joint analysis of risk preferences and technology |
| Journal: | Review of Economics and Statistics
1996 : MAY, VOL. 78:2, p. 329-335 |
| Index terms: | ECONOMICS STATISTICS RISK ANALYSIS |
| Language: | eng |
| Abstract: | A method is developed to estimate jointly risk preferences and technology under general conditions. The approach is illustrated in an application to the analysis of U. S. corn-soybean acreage decisions over time. The results provide useful information on the nature of farmers' risk preferences and on the influence of price risk and production risk on acreage allocation and farmers' welfare. Considerable research has focused on the influence of risk on production decisions, claim the authors of the present article. |
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