Managing uncertainty is an unavoidable challenge in a variety of decision contexts. If empirical data are available, statistics can be used to assist decision-making. If objective data are absent, experts are commonly used as a source of subjective probability estimates about the variable of...

Changes in agricultural and international trade policy have increased attention to issues of price volatility and risk management. Previous work in the area of price volatility has typically focused on grains, with little work dealing with cotton. The objective of this analysis was to examine...

This research uses the results of a series of within-sample experiments to elicit risk premium measures from agricultural producers. Results show that there is little consistency between measures in different contexts and using different elicitation methods, suggesting that underlying risk...