Estimation and use of risk aversion coefficient for traditional dryland agriculture in western Sudan
1992
Elamin, E.M. | Rogers, L.F.
This paper explores the importance of including risk when modeling subsistence-oriented agriculture in a developing nation. The specific objective is to measure the degree of risk aversion for typical farmers in the smallholder traditional agriculture of the Sudan. The procedure followed is to impute the farmer's risk aversion coefficient through a mathematical risk programming technique. Imputed farmers' risk aversion coefficients were used to validate the model specified and identify, for further analysis, a single risk optimal farm plan for each of the different farm situations studied.
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