As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many contributions and continue the development of theories of decision...

The impact of various policy instruments on the production of environmental goods that are complementary to or competing with agricultural commodities is analysed in the light of the uncertainty in output prices and farmers` risk aversion. Some theoretical assessments are first summarised and...