Incorporating Government Program Provisions into a Mean-Variance Framework
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Published:1989-12
Issue:2
Volume:21
Page:95-105
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ISSN:1074-0708
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Container-title:Journal of Agricultural and Applied Economics
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language:en
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Short-container-title:J. Agric. Appl. Econ.
Author:
Perry Gregory M.,Rister M. Edward,Richardson James W.,Bessler David A.
Abstract
AbstractE-V studies traditionally have relied on historical data to calculate returns and variance. Historical data may not fully reflect current conditions, particularly when decisions involve government-supported crops. This paper presents a method for calculating mean and variance using subjectively-estimated data. The method is developed for both government-supported and non-program crops. Comparisons to alternative methods suggest the approach provides reasonable accuracy.
Publisher
Cambridge University Press (CUP)
Subject
Economics and Econometrics,Agricultural and Biological Sciences (miscellaneous)
Reference28 articles.
1. Approximating Expected Utility by a Function of Mean and Variance.;Levy;Amer. Econ. Rev.,1979
2. Target MOTAD