Although risk analyses of discrete alternatives often identify at least one efficient set for persons who prefer risk, preference for risk is usually ignored when the decision variables are continuous. This paper presents a version of Target MOTAD which can be used when there is preference for risk.

Stochastic dominance criteria can be, but seldom are explicitly, applied to problems having continuous variables. A previously developed model is modified to facilitate exploration of sets of shadow price vectors for decreasing (non-increasing) absolute risk aversion stochastic dominance (DSD),...

Second degree stochastic dominance (SSD) can be, but seldom is explicitly, applied to problems having continuous variables. A model is presented which, for any SSD efficient solution, facilitates exploration of the set of SSD consistent shadow prices. The model is tested by applying it to a...

The volatility of St. Louis cash corn bids by day-of-the-week is examined for the period September 1992 through August 1999. Thursday to Friday, Friday to Monday and Friday to Tuesday (with a holiday on Monday) price changes tend to be larger than other day-to-day changes.

Target MOTAD and other direct utility-maximization models provide one way of computing SSD-efficient mixtures. These models are appropriate when the utility function is known and can also be used to identify part of the set of SSD-efficient mixtures even when the utility function is not known....

An adaptive estimator is proposed to optimally estimate unknown truncation points of the error support space for the general linear model. The adaptive estimator is specified analytically to minimize a risk function based on the squared error loss measure. It is then empirically applied to a...

In this paper, we identified the most desirable farm income risk management strategies for two rotation systems in the Pacific Nowthwest(PNW)area under a framework of expected utility maximization. Insurance programs available to PNW farmers and wheat futures market instruments are included in...

Participation in an international study program provides students with invaluable exposure to another culture and a multitude of academic and life experiences. Rapid advances in communication technologies now make it possible for students to share these experiences with their support network at...