ECONOMIC-BEHAVIOR UNDER UNCERTAINTY - A JOINT ANALYSIS OF RISK PREFERENCES AND TECHNOLOGY

Authors
CHAVAS JP HOLT MT
Citation
Jp. Chavas et Mt. Holt, ECONOMIC-BEHAVIOR UNDER UNCERTAINTY - A JOINT ANALYSIS OF RISK PREFERENCES AND TECHNOLOGY, Review of economics and statistics, 78(2), 1996, pp. 329-335
Citations number
26
Categorie Soggetti
Social Sciences, Mathematical Methods",Economics
Journal title
Review of economics and statistics → ACNP
ISSN journal
00346535
Volume
78
Issue
2
Year of publication
1996
Pages
329 - 335
Database
ISI
SICI code
0034-6535(1996)78:2<329:EUU-AJ>2.0.ZU;2-7
Abstract
A method is developed to estimate jointly risk preferences and technol ogy under general conditions. The approach is illustrated in an applic ation to the analysis of U.S. corn-soybean acreage decisions over time . The results provide useful information on the nature of farmers' ris k preferences and on the influence of price risk and production risk o n acreage allocation and farmers' welfare.