Application of mean-Gini stochastic efficiency analysis

Jeffrey D. McDonald, L. Joe Moffitt and Cleve E. Willis

Australian Journal of Agricultural and Resource Economics, 1997, vol. 41, issue 01, 18

Abstract: This article adds to the information base concerning the applicability of mean- Gini stochastic efficiency analysis in agriculture. The mean-Gini efficient set of decisions is characterized rigorously in terms of its corresponding absolute risk aversion. In an empirical analysis, the mean-Gini efficient set of decisions is derived for four studies from the literature and compared to the second degree stochastic dominance efficient set. An alternative quantitative measure of risk aversion is used to gain insight in a visceral sense to the risk preferences associated with mean-Gini efficient decisions.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aareaj:118007

DOI: 10.22004/ag.econ.118007

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