Risk, Uncertainty and Farm Management Decisions

The objective of this paper is to give a brief exposition of the decision criteria commonly propounded for decisions under risk and uncertainty. The review of these criteria in the context of farm management decisions reiterates the inappropriateness of all except the expected utility hypothesis, and it is concluded that utility analysis has considerable potential as an operational tool in farm management.


Issue Date:
1968-03
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/9109
Published in:
Review of Marketing and Agricultural Economics, Volume 36, Number 01
Page range:
3-19
Total Pages:
17




 Record created 2017-04-01, last modified 2017-08-23

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