AN APPROACH TO THE ECONOMETRIC ESTIMATION OF ATTITUDES TO RISK IN AGRICULTURE: COMMENT

Bardsley and Harris (1987) test empirically the effects of changes In deterministic wealth and random income on the measure partial risk aversion. The paper, which is otherwise well written, failed to impose the relationship between the two effects and estimated them independently. Consequently, inconsistent estimates were derived for the elasticities of the measure of partial risk aversion with respect to wealth and to income. The purpose of this comment is to derive that relationship theoretically and to point out the resulting inconsistencies in the original paper.


Issue Date:
1991-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/22624
Published in:
Australian Journal of Agricultural Economics, Volume 35, Number 3
Page range:
315-318
Total Pages:
4




 Record created 2017-04-01, last modified 2017-08-24

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