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Book Cover
E-book
Author Moss, Charles B. (Charles Britt)

Title Risk, uncertainty, and the agricultural firm / Charles B. Moss
Published Singapore ; Hackensack, NJ : World Scientific, ©2010

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Description 1 online resource (xiv, 292 pages) : illustrations
Contents Introduction -- Probability theory--A mathematical basis for making decisions under risk and uncertainty -- Expected utility--The economic basis of decision making under risk -- Risk aversion in the large and small -- Portfolio theory and decision making under risk -- Whole farm-planning models -- Risk efficiency approaches--Stochastic dominance -- Dynamic decision rules and the value of information -- Market models of decision making under risk -- Option pricing approaches to risk -- State contingent production model: The stochastic production set -- Risk, uncertainty, and the agricultural firm--A summary and outlook
Summary This text is the first major survey of risk analysis from the perspective of the agricultural firms since "Agricultural Decision Analysis" by Anderson, Dillon, and Hardaker published in 1977. In addition to updating the traditional material from that text, this book includes the statistical foundations of decision making under risk and uncertainty. Adding to the material covered in Anderson, Dillon, and Hardaker, the text includes material on dynamic decision rules, the arbitrage pricing model, real options theory, and state-contingent production relationships
Bibliography Includes bibliographical references and index
Notes Print version record
Subject Farm management -- Decision making -- Mathematical models
Risk -- Mathematical models
Uncertainty -- Mathematical models.
TECHNOLOGY & ENGINEERING -- Agriculture -- Agronomy -- Crop Science.
TECHNOLOGY & ENGINEERING -- Agriculture -- Agronomy -- General.
Farm management -- Decision making -- Mathematical models
Risk -- Mathematical models
Uncertainty -- Mathematical models
Form Electronic book
ISBN 9789814287630
9814287636