IDEAS home Printed from https://ideas.repec.org/a/ags/ajaeau/22641.html
   My bibliography  Save this article

Estimating An Upper Bound On The Pratt Risk A Version Coefficient When The Utility Function Is Unknown

Author

Listed:
  • McCarl, Bruce A.
  • Bessler, David A.

Abstract

No abstract is available for this item.

Suggested Citation

  • McCarl, Bruce A. & Bessler, David A., 1989. "Estimating An Upper Bound On The Pratt Risk A Version Coefficient When The Utility Function Is Unknown," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 33(1), pages 1-8, April.
  • Handle: RePEc:ags:ajaeau:22641
    DOI: 10.22004/ag.econ.22641
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/22641/files/33010056.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.22641?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Meyer, Jack, 1977. "Choice among distributions," Journal of Economic Theory, Elsevier, vol. 14(2), pages 326-336, April.
    2. Lemieux, Catharine M. & Richardson, James W. & Nixon, Clair J., 1982. "Federal Crop Insurance Vs. Ascs Disaster Assistance For Texas High Plains Cotton Producers: An Application Of Whole-Farm Simulation," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-14, December.
    3. Lars Brink & Bruce McCarl, 1978. "The Tradeoff between Expected Return and Risk Among Cornbelt Farmers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(2), pages 259-263.
    4. McCarl, Bruce A., 1988. "Preference Among Risky Prospects Under Constant Risk Aversion," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(2), pages 25-34, December.
    5. Tsiang, S C, 1972. "The Rationale of the Mean-Standard Deviation Analysis, Skewness Preference, and the Demand for Money," American Economic Review, American Economic Association, vol. 62(3), pages 354-371, June.
    6. John Lee & Deborah J. Brown & Stephen Lovejoy, 1985. "Stochastic Efficiency versus Mean-Variance Criteria as Predictors of Adoption of Reduced Tillage," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(4), pages 839-845.
    7. Richard M. Klemme, 1985. "A Stochastic Dominance Comparison of Reduced Tillage Systems in Corn and Soybean Production under Risk," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(3), pages 550-556.
    8. Whittaker, James K. & Winter, John R., 1980. "Risk Preferences Of Farmers: An Empirical Example, Some Questions, And Suggestions For Future Research," Risk Analysis in Agriculture: Research and Educational Developments, January 16-18, 1980, Tucson, Arizona 271571, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    9. Jeffrey Apland & Bruce A. McCarl & William L. Miller, 1980. "Risk and the Demand for Supplemental Irrigation: A Case Study in the Corn Belt," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(1), pages 142-145.
    10. Arthur H. Grube, 1986. "Participation in Farm Commodity Programs: A Stochastic Dominance Analysis: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(1), pages 185-188.
    11. Rister, M. Edward & Skees, Jerry R. & Black, J. Roy, 1984. "Evaluating Use Of Outlook Information In Grain Sorghum Storage Decisions," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 16(1), pages 1-8, July.
    12. Randall A. Kramer & Rulon D. Pope, 1981. "Participation in Farm Commodity Programs: A Stochastic Dominance Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(1), pages 119-128.
    13. Raskin, Rob & Cochran, Mark J., 1986. "Interpretations And Transformations Of Scale For The Pratt-Arrow Absolute Risk Aversion Coefficient: Implications For Generalized Stochastic Dominance," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 11(2), pages 1-7, December.
    14. John S. Hammond, III, 1974. "Simplifying the Choice between Uncertain Prospects Where Preference is Nonlinear," Management Science, INFORMS, vol. 20(7), pages 1047-1072, March.
    15. Rister, M. Edward & Skees, Jerry R. & Black, J. Roy, 1984. "Evaluating Use of Outlook Information in Grain Sorghum Storage Decisions," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 16(1), pages 151-158, July.
    16. Abdulla B. Danok & Bruce A. McCarl & T. Kelley White, 1980. "Machinery Selection Modeling: Incorporation of Weather Variability," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(4), pages 700-708.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cochran, Mark J., 1986. "Stochastic Dominance: The State Of The Art In Agricultural Economics," Regional Research Projects > 1986: S-180 Annual Meeting, March 23-26, 1986, Tampa, Florida 271995, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    2. McCarl, Bruce A., 1988. "Preference Among Risky Prospects Under Constant Risk Aversion," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(2), pages 25-34, December.
    3. Ritchie, John W. & Abawi, G. Yahya & Dutta, Sunil C. & Harris, Trevor R. & Bange, Michael, 2004. "Risk management strategies using seasonal climate forecasting in irrigated cotton production: a tale of stochastic dominance," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), pages 1-29.
    4. John W. Ritchie & G. Yahya Abawi & Sunil C. Dutta & Trevor R. Harris & Michael Bange, 2004. "Risk management strategies using seasonal climate forecasting in irrigated cotton production: a tale of stochastic dominance," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), pages 65-93, March.
    5. Goh, Siew & Shih, Chao-Chyuan & Cochran, Mark J. & Raskin, Rob, 1989. "A Generalized Stochastic Dominance Program For The Ibm Pc," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(2), pages 1-8, December.
    6. McCarl, Bruce A., 1990. "Generalized Stochastic Dominance: An Empirical Examination," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(1), pages 1-7, December.
    7. Teague, Paul W. & Lee, John G., 1988. "Risk Efficient Perennial Crop Selection: A Motad Approach To Citrus Production," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(2), pages 1-8, December.
    8. Drynan, Ross G., 1986. "A Note On Optimal Rules For Stochastic Efficiency Analysis," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(1), pages 1-10, April.
    9. Raskin, Rob & Cochran, Mark J., 1986. "Interpretations And Transformations Of Scale For The Pratt-Arrow Absolute Risk Aversion Coefficient: Implications For Generalized Stochastic Dominance," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 11(2), pages 1-7, December.
    10. Babcock, Bruce A. & Choi, E. Kwan & Feinerman, Eli, 1993. "Risk And Probability Premiums For Cara Utility Functions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(1), pages 1-8, July.
    11. Anaman, Kwabena A. & Boggess, William G., 1986. "A Stochastic Dominance Analysis Of Alternative Marketing Strategies For Mixed Crop Farms In North Florida," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 18(2), pages 1-9, December.
    12. Larson, James A. & Roberts, Roland K. & Tyler, Donald D. & Duck, Bob N. & Slinsky, Stephen P., 1998. "Nitrogen-Fixing Winter Cover Crops and Production Risk: A Case Study for No-Tillage Corn," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 30(1), pages 163-174, July.
    13. Hinson, Roger A. & Lee, John G. & Huh, Mooyul, 1990. "Evaluation Of Selected Fresh Vegetable Terminal Markets: A Stochastic Dominance Approach," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(2), pages 1-10, December.
    14. Musser, Wesley N., 1994. "Progress In Risk Analysis In Regional Projects," 1994 Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses Risk, Technical Committee Meeting, March 24-26, 1994, Gulf Shores State Park, Alabama 271553, Regional Research Projects > S-232: Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk.
    15. Scott Johnson, C. & Foster, Kenneth A., 1994. "Risk Preferences and Contracting In the U.S. Hog Industry," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 26(2), pages 393-405, December.
    16. Gomez-Limon, Jose A. & Arriaza, Manuel & Riesgo, Laura, 2003. "An MCDM analysis of agricultural risk aversion," European Journal of Operational Research, Elsevier, vol. 151(3), pages 569-585, December.
    17. Wilson, Paul N. & Eidman, Vernon R., 1983. "An Empirical Test Of The Interval Approach For Estimating Risk Preferences," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 8(2), pages 1-13, December.
    18. Gomez-Limon, Jose Antonio & Riesgo, Laura & Arriaza Balmón, Manuel, 2002. "Agricultural Risk Aversion Revisited: A Multicriteria Decision-Making Approach," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24827, European Association of Agricultural Economists.
    19. Maynard, Leigh J. & Harper, Jayson K. & Hoffman, Lynn D., 1997. "Impact Of Risk Preferences On Crop Rotation Choice," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 26(1), pages 1-9, April.
    20. Liu, Yangxuan & Langemeier, Michael & Small, Ian & Joseph, Laura & Fry, William, 2015. "Risk management strategies using potato precision farming technology," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205417, Agricultural and Applied Economics Association.

    More about this item

    Keywords

    Risk and Uncertainty;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ajaeau:22641. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.