ASSESSMENT OF THE OUTPUT OF A STOCHASTIC DECISION MODEL

The concept of stochastic dominance is described and its use is illustrated in relation to the evaluation of the output of a systems simulation model of lucerne haymaking in south-west Spain. Two alternative machinery systems are ranked for various lucerne areas using the criteria of stochastic dominance, and These results are compared with those obtained using mean-variance analysis.


Issue Date:
1973-12
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/22321
PURL Identifier:
http://purl.umn.edu/22321
Published in:
Australian Journal of Agricultural Economics, Volume 17, Number 3
Page range:
170-178
Total Pages:
9




 Record created 2017-04-01, last modified 2018-01-22

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)