EFFICIENCY CRITERIA AND RISK AVERSION: AN EMPIRICAL EVALUATION

A conceptual link among mean-variance (EV), stochastic dominance (SD), and mean-risk (ET), and Gini mean difference (EG) is established for determining risk efficient decision sets. The theoretical relations among the various efficiency criteria are then empirically demonstrated with a soybean and wheat double-crop simulation model. Empirical results associated with extended Gini mean difference (EEG) and extended mean-absolute Gini (EET) for risk analysis are encouraging.


Issue Date:
1988-07
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/29716
PURL Identifier:
http://purl.umn.edu/29716
Published in:
Southern Journal of Agricultural Economics, Volume 20, Number 1
Page range:
171-178
Total Pages:
8




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

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