Changes in the distribution of an agricultural commodity among quality classes may affect the total revenue obtained from a given quantity of product. Growers and marketing firms need to consider the best mix of qualities as well as the best level of output. This paper describes an approach to...

The exponential utility function for money has long attracted attention from theorists because it exhibits nonincreasing absolute risk aversion. Also, under certain conditions, it generates an expected utility function that is maximizable in a quadratic program. However, this functional form...