This paper explores the issue of approximating expected utility in applying portfolio theory. It has been demonstrated that expected utility is very closely approximated by an appropriate quadratic function. Recent studies have again questioned the empirical validity of mean-variance analysis....

This article evaluates the performance of expected value and expected value-variance criteria in achieving risk efficiency in crop selection. Results indicate that the expected returns criterion achieves risk efficiency in many situations because of constraints. However, in the absence of many...

This study develops theoretical models of leasing from the perspectives of both the lessor and lessee. The models address effects of tax distortions and imperfect debt markets on the value of leasing. Analysis of the broiler industry shows that leasing is an important financing consideration for...

This study shows that the price-yield correlation is a major influence in determining the skewness of revenue. Therefore, normality for revenue may not be rejected even if the price and/or yield distributions are significantly skewed. Analysis of cotton revenue for Mississippi shows that this...