IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v49y1967i4p869-880..html
   My bibliography  Save this article

Representation of Farmers' Behavior under Uncertainty with a Focus-Loss Constraint

Author

Listed:
  • Jean-Marc Boussard
  • Michel Petit

Abstract

This article presents a method for taking uncertainty into account when representing farmers' production decisions. The main assumption is that farmers maximize their profit provided that the possibility of ruin is negligible. The possibility of ruin is viewed as being closely related to Shackle's focus of loss. Results of a study incorporating the analytical apparatus developed from this assumption are given here. In the particular case of farmers in southern France, the results lend support to the proposed procedure, in spite of the arbitrariness involved in estimating some parameters, and particularly the foci of loss.

Suggested Citation

  • Jean-Marc Boussard & Michel Petit, 1967. "Representation of Farmers' Behavior under Uncertainty with a Focus-Loss Constraint," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(4), pages 869-880.
  • Handle: RePEc:oup:ajagec:v:49:y:1967:i:4:p:869-880.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1236943
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:49:y:1967:i:4:p:869-880.. 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: (Oxford University Press) or (Christopher F. Baum). General contact details of provider: http://edirc.repec.org/data/aaeaaea.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.