SUBJECTIVE PRODUCTION FUNCTION PARAMETERS AND RISK: WHEAT PRODUCTION IN TUNISIA

Terry Roe and David F. Nygaard

No 13900, Staff Papers from University of Minnesota, Department of Applied Economics

Abstract: This paper focuses on the problem of decision making when the parameters of the underlying technology are either unknown or are not known with certainty by producers. This problem is considered within the context of Tunisian durum wheat production in Northern Tunisia where farmers ability to accurately perceive the input-output characteristics of both old and new varieties is important to increasing allocative efficiency, decreasing subject risk and encouraging the adoption of high yielding varieties under uncertain climatic conditions.

Keywords: Crop; Production/Industries (search for similar items in EconPapers)
Pages: 12
Date: 1979
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaesp:13900

DOI: 10.22004/ag.econ.13900

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