Land Allocation under Uncertainty for Alternative Specifications of Return Distributions
1985
Collender, Robert N. | Zilberman, David
Using the expected utility‐moment‐generating function approach, a land allocation rule is derived which is both independent of the nature of the underlying distribution of each element in the choice set and accounts for all moments of that distribution. This decision rule is applied to the choice between cotton and corn in the Mississippi Delta to demonstrate that consideration of just the first two moments of the distribution can often be unjustified and damaging empirically, theoretically, and in terms of the utility of the decision maker.
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书目信息
出版者
Oxford University Press
其它主题
River deltas; Corn
语言
英语
注释
Journal article
类型
Journal Article; Text
2024-02-28
MODS