@article{Vieth:15128, recid = {15128}, author = {Vieth, Gary R. and Suppapanya, Pramote}, title = {AN EVALUATION OF SELECTED DECISION MODELS: A CASE OF CROP CHOICE IN NORTHERN THAILAND}, journal = {Journal of Agricultural and Applied Economics}, address = {1996-12}, number = {1379-2016-113391}, pages = {11}, year = {1996}, abstract = {This research examines the predictability of a profit maximization model, an expected value-variance utility maximization (E-V) model, and two versions of the target-MOTAD model for modeling risky agricultural production decisions. Model solutions were translated into expected value and variance of farm income for analysis. Direct comparison and chi-square analysis of actual and predicted expected income distributions were used in the analyses. It was concluded that the utility maximization and cash-cost target-MOTAD models predicted distributions of farm income better than the variable-cost target-MOTAD and profit maximization models.}, url = {http://ageconsearch.umn.edu/record/15128}, doi = {https://doi.org/10.22004/ag.econ.15128}, }