Machine generated contents note: I -- I -- PART I -- BEHAVIOR UNDER RISK: GENERAL CONCEPTS AND -- THEIR SIGNIFICANCE FOR AGRICULTURE -- 1 Expected Utility as a Paradigm for Decision Making in Agriculture 3 -- Jack Meyer -- 2 Non-Expected Utility: What Do the Anomalies Mean for 21 -- Risk in...

After all the research on agricultural risk to date, the treatment of risk in agricultural research is far from harmonious. Many competing risk models have been proposed. Some new methodologies are largely untested. Some of the leading empirical methodologies in agricultural economic research...

Crop production is subject to supply shocks, and both expected and realized outputs as well as output prices are unknown when inputs are chosen. The process by which producers form expectations is difficult to model, especially when working with aggregate data. We present a necessary and...