Agricultural production, particularly in developing countries, is generally a risky process, and considerable evidence exists to suggest that farmers behave in risk averse ways. Yet risk considerations are rarely incorporated into regional or sector planning models; rather farmers are assumed to behave in a risk-neutral profit maximizing way. Explicit representations of uncertain outcomes and farmers' attitudes toward them have appeared mostly in...
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INFORMATION
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1978/11/30
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Document de travail des services de la Banque mondiale
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SWP307
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1
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1
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2010/07/01
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The importance of risk in agricultural planning models
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risk averse