Articlegreen2002

Non‐parametric estimation of decision makers' risk aversion

37 citations0/0 files storedAgricultural Economics

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Decision-Making and Behavioral Economics Economic and Environmental Valuation Agricultural risk and resilience

Abstract

Abstract A new non‐parametric method to estimate a decision maker's coefficient of absolute risk aversion from observed economic behaviour is explained. The method uses the expected value‐variance (E‐V) framework and quadratic programming. An empirical illustration is given using Norwegian farm‐level data.

Citations in this library

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References

1952PORTFOLIO SELECTION*2005An Introduction to Efficiency and Productivity Analysis 1998An Introduction to Efficiency and Productivity Analysis 1972Essays in the Theory of Risk-Bearing.1980Attitudes Toward Risk: Experimental Measurement in Rural India 1977Agricultural Decision Analysis 1956The Introduction of Risk into a Programming Model 1977Agricultural Decision Analysis

Cited by

2007Mean-Variance-Skewness Portfolio Performance Gauging: A General Shortage Function and Dual Approach 2015Farmer risk-aversion limits closure of yield and profit gaps: A study of nitrogen management in the southern Australian wheatbelt 2018Not all clawbacks are the same: Consequences of strong versus weak clawback provisions 2023How to Measure Risk Attitudes Among Poor Rural Households: An Overview of Popular Risk Elicitation Methods

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