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Uncertainty and sustainability in the management of semi-arid rangelands
Quaas, Martin; Baumgärtner, Stefan; Becker, Christian; … - 2004
We analyze a dynamic and stochastic ecological-economic model of grazing management in semi-arid range lands. The non …-equilibrium ecosystem is driven by stochastic precipitation. A risk averse farmer chooses a grazing management strategy under uncertainty … such as to maximize expected utility from farming income. Grazing management strategies are rules about which share of the …
Persistent link: https://www.econbiz.de/10003246066
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Uncertainty and sustainability in the management of semi-arid rangelands
Quaas, Martin F.; Baumgärtner, Stefan; Becker, Christian; … - 2005
We analyze a dynamic and stochastic ecological-economic model of grazing management in semi-arid rangelands. The non …-equilibrium ecosystem is driven by stochastic precipitation. A risk averse farmer chooses a grazing management strategy under uncertainty … such as to maximize expected utility from farming income. Grazing management strategies are rules about which share of the …
Persistent link: https://www.econbiz.de/10010467001
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Ambiguity framed
Schneider, Mark; Leland, Jonathan W.; Wilcox, Nathaniel T. - 2016
Persistent link: https://www.econbiz.de/10011486367
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Risk aversion and the subjective time discount rate : a joint approach
Praag, Bernard M. S. van; Booij, Adam S. - 2003
In this paper we analyze a large sample of individual responses to six lottery questions. We derive a simultaneous estimate of risk aversion and the time preference discount rate per individual. This can be done because the consumption of a large prize is smoothed over a larger time period. It...
Persistent link: https://www.econbiz.de/10011507761
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Optimal order quantity by maximising expected utility for the newsboy model
Ota, Mahadev; Srinivasan, S.; Nandakumar, C. D. - In: International journal of procurement management 12 (2019) 4, pp. 410-424
Persistent link: https://www.econbiz.de/10012138469
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Risk aversion and the subjective time discount rate : a joint approach
Praag, Bernard M. S. van; Booij, Adam S. - 2003
In this paper we analyze a large sample of individual responses to six lottery questions. Wederive a simultaneous estimate of risk aversion ? and the time preference discount rate ? perindividual. This can be done because the consumption of a large prize is smoothed over a largertime period. It...
Persistent link: https://www.econbiz.de/10011333268
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Pre-decision side-bet sequences
Kaivanto, Kim; Peel, David - 2017
Persistent link: https://www.econbiz.de/10012170190
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Quantifying the subjective value of certainty
Eisenhauer, Joseph G. - In: German economic review 18 (2017) 1, pp. 118-131
Persistent link: https://www.econbiz.de/10011722100
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Risk aversion loss aversion, and the demand for insurance
Eeckhoudt, Louis R.; Fiori, Anna Maria; Rosazza Gianin, … - In: Risks : open access journal 6 (2018) 2, pp. 1-19
In this paper we analyze insurance demand when the utility function depends both upon final wealth and the level of losses or gains relative to a reference point. Besides some comparative statics results, we discuss the links with first-order risk aversion, with the Omega measure, and with a...
Persistent link: https://www.econbiz.de/10011867426
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Range-dependent utility
Kontek, Krzysztof; Lewandowski, Michał - In: Management science : journal of the Institute for … 64 (2018) 6, pp. 2812-2832
Persistent link: https://www.econbiz.de/10011879030