Risk, Uncertainty and Farm Management Decisions

R.R. Officer and Jock Anderson ()

Review of Marketing and Agricultural Economics, 1968, vol. 36, issue 01, 17

Abstract: 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.

Keywords: Farm Management; Risk and Uncertainty (search for similar items in EconPapers)
Date: 1968
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Persistent link: https://EconPapers.repec.org/RePEc:ags:remaae:9109

DOI: 10.22004/ag.econ.9109

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