AN EVALUATION OF SELECTED DECISION MODELS: A CASE OF CROP CHOICE IN NORTHERN THAILAND

Gary R. Vieth and Pramote Suppapanya

Journal of Agricultural and Applied Economics, 1996, vol. 28, issue 2, 11

Abstract: This research examines the predictability of a profit maximization model, an expected value-variance utility maximization (E-V) model, and two versions of the target-MOTAD model for modeling risky agricultural production decisions. Model solutions were translated into expected value and variance of farm income for analysis. Direct comparison and chi-square analysis of actual and predicted expected income distributions were used in the analyses. It was concluded that the utility maximization and cash-cost target-MOTAD models predicted distributions of farm income better than the variable-cost target-MOTAD and profit maximization models.

Keywords: Crop; Production/Industries (search for similar items in EconPapers)
Date: 1996
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/15128/files/28020381.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:joaaec:15128

DOI: 10.22004/ag.econ.15128

Access Statistics for this article

More articles in Journal of Agricultural and Applied Economics from Southern Agricultural Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().