STOCHASTIC EFFICIENCY ANALYSIS USING MULTIPLE UTILITY FUNCTIONS
Keith D. Schumann,
James Richardson (),
Gudbrand D. Lien and
J. Brian Hardaker
No 19957, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Evaluating the risk of a particular decision depends on the risk aversion of the decision maker related to the underlying utility function. The objective of this paper is to use stochastic efficiency with respect to a function (SERF) to compare the ranking of risky alternatives using alternative utility functional forms.
Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
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