Modeling Interdependence: An Approach to Simulation and Elicitation

Paul Fackler ()

American Journal of Agricultural Economics, 1991, vol. 73, issue 4, 1091-1097

Abstract: A method for eliciting probability information about jointly dependent random variables and incorporating that information directly in a method for generating simulated random variables is developed. The method is particularly useful in situations in which information on several interdependent variables is required. Applications in agriculture include whole-farm planning with uncertainty about multiple crop yields and prices.

Date: 1991
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