Efficient Handling of Probability Information for Decision Analysis under Risk

Paul Preckel () and Eric DeVuyst

American Journal of Agricultural Economics, 1992, vol. 74, issue 3, 655-662

Abstract: An approach is presented for "condensing" probability distributions so that as much distributional information as possible is preserved. We demonstrate that our approach may be substantially more efficient than alternative methods and, as a result, may permit more realistic modeling of risky decisions.

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:74:y:1992:i:3:p:655-662.

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