The importance of risk preferences in agricultural production has long been identified as an important and preeminent issue of policy relevance. Recent developments in the study of production risk have called into question much of the core of risk production research. This article provides an...

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...