Some Estimates of Farmers' Utility Functions

Clifford Hildreth and Glenn J. Knowles

No 54545, Technical Bulletins from University of Minnesota, Agricultural Experiment Station

Abstract: Utility functions for 13 Minnesota farmers are estimated from their responses to hypothetical decision problems under uncertainty. The results furnish strong evidence of risk aversion and of decreasing absolute risk aversion as wealth increases.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Pages: 49
Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaetb:54545

DOI: 10.22004/ag.econ.54545

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