This paper describes a numerically efficient Machine Learning approach for solving the farm manager’s land allocation problem in a manner that requires neither a distributional assumption on crop returns nor an expected utility specification. The method is based on the idea that a farm manager...

We propose a Generalization of Roy's (1952) Safety First (SF) principle and relate it to the IID versions of Stutzer's (Stutzer's 2000, 2003) Portfolio Performance Index and underperformance probability Decay-Rate Maximization criteria. Like the original SF, the Generalized Safety First (GSF)...