Choice of Utility Functional Form: Its Effect on Classification of Risk Preferences and the Prediction of Farmer Decisions

Subjective utility values were elicited from Sri Lankan producers of minor export crops. Exponential, quadratic, and cubic utility functions were estimated. The choice of functional form was found to affect both the classification of risk attitudes and the prediction of harvesting strategy.


Issue Date:
Aug 02 1987
Publication Type:
Conference Paper/ Presentation
Record Identifier:
http://ageconsearch.umn.edu/record/270141
Language:
English
Total Pages:
18




 Record created 2018-03-28, last modified 2018-03-28

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