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Identifying The Set Of Ssd-Efficient Mixtures Of Risky Alternatives

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  • McCamley, Francis P.
  • Kliebenstein, James B.
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    Abstract

    Target MOTAD and other direct utility-maximization models provide one way of computing SSD-efficient mixtures. These models are appropriate when the utility function is known and can also be used to identify part of the set of SSD-efficient mixtures even when the utility function is not known. However, they do not always identify all SSD-efficient mixtures. A grid method was proposed by Bawa, Lindenberg, and Rafsky. A third approach, which extends the work of Dybvig and Ross, is presented here. It is illustrated by applying it to data from Anderson, Dillon, and Hardaker.

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    File URL: http://purl.umn.edu/32468
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    Bibliographic Info

    Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

    Volume (Year): 12 (1987)
    Issue (Month): 01 (July)
    Pages:

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    Handle: RePEc:ags:wjagec:32468

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    Web page: http://waeaonline.org/
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    Related research

    Keywords: Risk and Uncertainty;

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