Joint Estimation of Risk Preferences and Technology: Flexible Utility or Futility?

A thought experiment is designed to investigate whether the structure of risk aversion (i.e., the changes in absolute or relative risk aversion associated with changes in wealth) can be estimated with reasonable precision from agricultural production data. Findings strongly suggest that typical prod...

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Veröffentlicht in:	American journal of agricultural economics 2009-08, Vol.91 (3), p.581-598
1. Verfasser:	Lence, Sergio H.
Format:	Artikel
Sprache:	eng
Schlagworte:	Agricultural economics Agricultural production Analytical estimating Attitudes Commercial production Econometrics Estimation expected utility joint estimation Mathematical independent variables Parameter estimation Preliminary estimates Price shocks Production production analysis Production estimates risk attitudes Risk aversion Risk management Risk preferences Statistical median Studies Technology Utilitarianism Utility functions Variance analysis Wealth
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