The Elicitation of Subjective Probabilities with Applications in Agricultural Economics

Probability judgements are important components of decision making under uncertainty. In particular, economic decisions can be aided by assuring more accurate assessment of probabilities and more realistic modelling of economic problems through the inclusion of subjective probabilities. The purpose of this paper is to describe the techniques which can be used to elicit subjective probabilities and the ways in which these techniques can be incorporated into agricultural economics research. The review draws from the statistics, psychology, management, operations research, meteorology and economics literature.


Issue Date:
1990-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/12253
Published in:
Review of Marketing and Agricultural Economics, Volume 58
Numbers 02-03
Page range:
127-147
Total Pages:
21




 Record created 2017-04-01, last modified 2017-08-23

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