TEACHING AGRICULTURAL PRODUCERS TO CONSIDER RISK IN DECISION MAKING

The 1996 FAIR Act has emphasized the importance of teaching agricultural producers to understand and respond rationally to risk. The following are guidelines for considering risk: (1) analyze decisions using a payoff matrix, (2) estimate the probabilities of events, (3) consider individual attitudes about taking risks, and (4) adopt management strategies to control risk. Much still remains to be learned about how to teach risk management.


Issue Date:
1997
Publication Type:
Working or Discussion Paper
Record Identifier:
http://ageconsearch.umn.edu/record/23996
PURL Identifier:
http://purl.umn.edu/23996
Total Pages:
16
Series Statement:
Faculty Paper 97-17




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

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