RESPONSES TO RISK IN WEED CONTROL DECISIONS UNDER EXPECTED PROFIT MAXIMISATION: COMMENT

Scott Swinton

Journal of Agricultural Economics, 1991, vol. 42, issue 3, 404-405

Abstract: Pannell's finding that risk reduces the optimal rate of herbicide use and raises the economic threshold for weed control is found to depend upon the form of the yield function. Pannell's results apply only to convex yield functions. For sigmoidal functions, such as the logistic, risk has the opposite effect over the concave portion of the function's range.

Date: 1991
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