The 1996 FAIR Act has emphasized the importance of teaching agricultural producers to understand and respond rationally to risk. The following are guidelines for considering risk: (1) analyze decisions using a payoff matrix, (2) estimate the probabilities of events, (3) consider individual...

An operational program to develop and disseminate probabilistic outlook information for agricultural commodities would allow decision makers to better comprehend the degree of uncertainty associated with future prices. While there are psychological limitations to the estimation or probabilities,...

Partnerships can be effective tools for engaging universities with their communities. Examples from the Texas A&M University System Agriculture Program are used to discuss the use of partnerships and the use of university-industry partnerships in particular. The characteristics of successful...

The 1996 FAIR Act has emphasized the importance of teaching agricultural producers to understand and respond rationally to risk. The following are guidelines for considering risk: (1) analyze decisions using a payoff matrix, (2) estimate the probabilities of events, (3) consider individual...

The effectiveness of Personal Response System (PRS) technology, sometimes called clickers, in engaging millennial students in more active learning is evaluated using pre-use and post-use surveys in three undergraduate agricultural economics courses with a total of 300 students. A PRS allows...