Impacts of risk aversion on whole-farm management in Syria

David Pannell, T.L. Nordblom

Research output: Contribution to journalArticle

19 Citations (Scopus)

Abstract

This article reports on a study of the impact of risk on farm management practices in northern Syria, focusing particularly on how these are affected by risk aversion and farm size. The study is based on production data from an eight-year field trial and on prices from market surveys. A large linear programming model is built, representing the eight years as observations from a discrete probability distribution. Risk aversion is modelled by inclusion of a utility function with constant relative risk aversion, represented using the DEMP/UEP approach.
Original languageEnglish
Pages (from-to)227-247
JournalAustralian Journal of Agricultural and Resource Economics
Volume42
Issue number3
DOIs
Publication statusPublished - 1998

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