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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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    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. 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.
    3. 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.
    4. 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.
    5. 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.
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