RISK CONCEPTS IN AGRICULTURE: A CLOSER LOOK

Michael D. Weiss

No 279010, 1984 Annual Meeting, August 5-8, Ithaca, New York from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper provides new insight into the meaning of several risk concepts (e.g., "lottery space," "measurable utility function," "risk aversion") of use in agricultural economics. Some surprising consequences of a mathematically rigorous approach, such as risk aversion with "convex data," are discussed. Applications to the agricultural economics literature are described.

Keywords: Agricultural and Food Policy; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 16
Date: 1984-08
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea84:279010

DOI: 10.22004/ag.econ.279010

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