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Risk, Utility And The Palatabilty Of Extension Advice To Farmer Groups

Author

Listed:
  • Officer, R.R.
  • Halter, A.N.
  • Dillon, John L.

Abstract

Using the results of an empirical study of farmers' utility functions, evidence is presented that risk plays a measurable role in farmer decision making. The extension implications of such risk influences are discussed with particular emphasis on the possible efficacy of using group utility functions as a basis for group recommendations.

Suggested Citation

  • Officer, R.R. & Halter, A.N. & Dillon, John L., 1967. "Risk, Utility And The Palatabilty Of Extension Advice To Farmer Groups," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 11(2), pages 1-13, December.
    • Handle: RePEc:ags:ajaeau:22753
    DOI: 10.22004/ag.econ.22753
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    File URL: https://ageconsearch.umn.edu/record/22753/files/11020171.pdf
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    References listed on IDEAS

    as
    1. Officer, R.R. & Anderson, Jock R., 1968. "Risk, Uncertainty and Farm Management Decisions," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 36(01), pages 1-17, March.
    2. Jack R. Davidson & Ronald L. Mighell, 1963. "Tracing Farmers' Reactions to Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 45(3), pages 577-586.
    3. Chisholm, Anthony H., 1965. "Towards the Determination of Optimum Stocking Rates in the High Rainfall Zone," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 33(01), pages 1-27, March.
    4. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56(4), pages 279-279.
    5. Chisholm, A.H., 1965. "Towards the Determination of Optimum Stocking Rates in the High Rainfall Zone," Working Papers 302425, University of New England, School of Economics.
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