Moschini, Giancarlo; Hennessy, David A. - In: Handbook of agricultural economics : volume 1, part A , …, (pp. 87-153). 2001
Uncertainty and risk are quintessential features of agricultural production. After a brief overview of the main sources … of agricultural risk, we provide an exposition of expected utility theory and of the notion of risk aversion. This is … followed by a basic analysis of agricultural production decisions under risk, including some comparative statics results from …