Risk-Efficient Production Plans Under Alternative Measures of Income Expectations

K.M. Eskridge, Charles E. Curtis and James B. Hassler

No 278548, 1985 Annual Meeting, August 4-7, Ames, Iowa from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Decision—making under uncertainty with income expectations conditioned on available information is contrasted with the standard risk modeling defini— tion of expectations as mean income. Two MOTAD models are specified, a traditional MOTAD and one employing an ARMA model to develop conditional expectations. The analysis indicates that income variability may be reduced by conditioning expectations on relevant information.

Keywords: Productivity Analysis; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 17
Date: 1985-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea85:278548

DOI: 10.22004/ag.econ.278548

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