Simplified Risk Analysis in Agricultural Extension

Attention is given to the major methods of assessing risk in order to make choices. The literature frequently reports studies on mean-variance ( E-V) analysis and stochastic dominance rules. Both of these methods are compared, in an agricultural application, with the approach outlined by Hanoch and Levy. The empirical results suggests that Hanoch and Levy's criterion appear to reduce the size of the risk-efficient set, and that the sets of recommendations from the methods under comparison were consistent. The two recommendations generated by Hanoch and Levy's rule were found to be reasonable for this particular decision process.


Issue Date:
1988-01
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/172058
Published in:
Agricultural Economics: The Journal of the International Association of Agricultural Economists, Volume 01, Issue 4
Page range:
381-390
Total Pages:
10




 Record created 2017-04-01, last modified 2017-04-28

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