Rationalising Risk Assessment: Applications to Agricultural Business
To concentrate on treating the most serious risks, methods of business risk management usually seek to identify the main risks and to assess their relative importance. Risks are typically assessed in terms of their chances of occurrence and the severity of their consequences. The assessments may be performed by qualitative, semi-quantitative or quantitative analysis. This paper is focussed on quantitative methods, requiring assessments of specific probabilities and values for consequences.
References listed on IDEAS
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- Quiggin, John, 1992. "Some observations on insurance, bankruptcy and input demand," Journal of Economic Behavior & Organization, Elsevier, vol. 18(1), pages 101-110, June.
- Richardson, James W. & Klose, Steven L. & Gray, Allan W., 2000.
"An Applied Procedure For Estimating And Simulating Multivariate Empirical (Mve) Probability Distributions In Farm-Level Risk Assessment And Policy Analysis,"
Journal of Agricultural and Applied Economics,
Southern Agricultural Economics Association, vol. 32(02), August.
- Richardson, James W. & Klose, Steven L. & Gray, Allan W., 2000. "An Applied Procedure for Estimating and Simulating Multivariate Empirical (MVE) Probability Distributions In Farm-Level Risk Assessment and Policy Analysis," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 32(02), pages 299-315, August.
- Lien, Gudbrand D. & Hardaker, J. Brian & Richardson, James W., 2006. "Simulating Multivariate Distributions with Sparse Data: A Kernal Density Smoothing Procedure," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25449, International Association of Agricultural Economists.
- Mark Morrison & Jeff Bennett & Russell Blamey & Jordan Louviere, 2002. "Choice Modeling and Tests of Benefit Transfer," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(1), pages 161-170.
- G Lien & JB Hardaker, 2001. "Whole-farm planning under uncertainty: impacts of subsidy scheme and utility function on portfolio choice in Norwegian agriculture," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 28(1), pages 17-36, March. Full references (including those not matched with items on IDEAS)
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