An Empirical Test Of The Interval Approach For Estimating Risk Preferences
Previous attempts to measure agricultural decision makers' risk preferences have obtained values of the Arrow-Pratt coefficient in the range of approximately -.0002 to .0012. The recently developed interval approach for elicitation of risk preferences was used to estimate risk attitudes for Minnesota swine producers. Constant and decreasing absolute risk aversion were predominant among the sample. Seventy-eight percent of the respondents were in the Arrow-Pratt interval of -.0002 to .0003. A discriminant analysis using producer attributes and three estimated risk intervals concluded that 50 percent of the respondents could be classified in the correct risk interval.
Volume (Year): 08 (1983)
Issue (Month): 02 (December)
|Contact details of provider:|| Web page: http://waeaonline.org/|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Meyer, Jack, 1975. "Increasing risk," Journal of Economic Theory, Elsevier, vol. 11(1), pages 119-132, August.
- Meyer, Jack, 1977. "Choice among distributions," Journal of Economic Theory, Elsevier, vol. 14(2), pages 326-336, April.
- Meyer, Jack, 1977. "Second Degree Stochastic Dominance with Respect to a Function," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(2), pages 477-87, June.
- King, Robert P., 1979. "Operational Techniques for Applied Decision Analysis Under Uncertainty," AAEA Fellows - Dissertations and Theses, Agricultural and Applied Economics Association, number 181951, May.
When requesting a correction, please mention this item's handle: RePEc:ags:wjagec:32100. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.