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Please use this identifier to cite or link to this item: http://purl.umn.edu/32548

Title: UTILITY MEASUREMENT FOR THOSE WHO NEED TO KNOW
Authors: Halter, A.N.
Mason, Robert
Issue Date: 1978-12
Abstract: A practical technique for estimating decision-makersÂ’ utility functions by survey or group methods is explained and illustrated. Results from a survey of 44 Oregon farmers are reported. Risk attitudes of respondents are related to farm and decision-maker characteristics. Regression analysis found age, education, and percentage of land ownership, either separately or jointly, to be statistically significant variables related to risk attitude. Risk attitudes measured from the estimated utility functions were found to be uniformly distributed across risk aversion, neutral and preference. Even though further empirical work is needed, it appears that the distribution of risk attitude among the human population cannot be predicted from a single variable.
URI: http://purl.umn.edu/32548
Institution/Association: Western Journal of Agricultural Economics>Volume 03, Number 02, December 1978
Total Pages: 12
Language: English
From Page: 99
To Page: 110
Collections:Volume 03, Number 02, December 1978

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