ASSESSMENT OF THE OUTPUT OF A STOCHASTIC DECISION MODEL

The concept of stochastic dominance is described and its use is illustrated in relation to the evaluation of the output of a systems simulation model of lucerne haymaking in south-west Spain. Two alternative machinery systems are ranked for various lucerne areas using the criteria of stochastic dominance, and These results are compared with those obtained using mean-variance analysis.

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Year of publication:	1973
Authors:	Hardaker, J. Brian ; Tanago, A.G.
Published in:	Australian Journal of Agricultural Economics. - Australian Agricultural and Resource Economics Society - AARES. - Vol. 17.1973, 03
Publisher:	Australian Agricultural and Resource Economics Society - AARES
Subject:	Research Methods/ Statistical Methods

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005525538