000278524 001__ 278524 000278524 005__ 20210122081507.0 000278524 0247_ $$2doi$$a10.22004/ag.econ.278524 000278524 037__ $$a2141-2018-6539 000278524 041__ $$aeng 000278524 245__ $$aDISCONTINUOUS UTILITY IN AGRICULTURAL RISK MODELING 000278524 260__ $$c1985-08 000278524 269__ $$a1985-08 000278524 300__ $$a15 000278524 336__ $$aConference Paper/ Presentation 000278524 520__ $$aConditions are developed for the theoretically sound use of discontinuous utility functions to represent behavior under risk. The dangers of spurious use of discontinuous utility in (1) empirical studies and (2) cases in which a riskless asset is available, are highlighted. Related problems in the agricultural economics literature are discussed. 000278524 546__ $$aEnglish 000278524 650__ $$aAgricultural and Food Policy 000278524 650__ $$aRisk and Uncertainty 000278524 700__ $$aWeiss, Michael D. 000278524 8560_ $$fmoric022@umn.edu 000278524 8564_ $$9d3d0e9e8-70e2-486b-9b04-3671580a5d99$$s1066063$$uhttps://ageconsearch.umn.edu/record/278524/files/aaea-1985-016.pdf 000278524 909CO $$ooai:ageconsearch.umn.edu:278524$$pGLOBAL_SET 000278524 913__ $$aBy depositing this Content ('Content') in AgEcon Search, I agree that I am solely responsible for any consequences of uploading this Content to AgEcon Search and making it publicly available, and I represent and warrant that: I am either the sole creator and the owner of the copyrights and all other rights in the Content; or, without obtaining another’s permission, I have the right to deposit the Content in an archive such as AgEcon Search. To the extent that any portions of the Content are not my own creation, they are used with the copyright holder’s express permission or as permitted by law. Additionally, the Content does not infringe the copyrights or other intellectual property rights of another, nor does the Content violate any laws or another’s rights of privacy or publicity. The Content contains no restricted, private, confidential, or otherwise protected data or information that should not be publicly shared. I understand that AgEcon Search will do its best to provide perpetual access to my Content. In order to support these efforts, I grant the Regents of the University of Minnesota ('University'), through AgEcon Search, the following non-exclusive, irrevocable, royalty-free, world-wide rights and licenses: to access, reproduce, distribute and publicly display the Content, in whole or in part, in order to secure, preserve and make it publicly available, and to make derivative works based upon the Content in order to migrate the Content to other media or formats, or to preserve its public access. These terms do not transfer ownership of the copyright(s) in the Content. These terms only grant to the University the limited license outlined above. 000278524 980__ $$a2141