Measuring Farmers' Trade-Offs between Expected Income and Focus-Loss Income
作者： J. P. G. Webster , J. O. S. Kennedy
DOI: 10.2307/1238845
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摘要: Farmers' attitudes to risk are viewed within a focus-loss framework. Sets of indifference curves constructed for five farmers who willing forgo expected income increases in probabilisticly defined minimum income. Each set is compared with the respective farmer's utility function as derived by modified von Neumann-Morgenstern method.
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