Lehtonen, Heikki; Kujala, Sanna - European Association of Agricultural Economists - EAAE - 2007
, limited domestic demand, and imperfect substitution. Sector models including risk are relatively few in recent literature of … agricultural economics. In our first analysis we use mean-variance approach in including crop yield risk and risk aversion … approaches for better representation and modelling of crop risks. Albeit simple, we consider optimisation and risk aversion …