Decision making under risk. A study of models and measurement procedures with special reference to the farmers' marketing behavior
The objectives of the study were: a) to review, discuss and test a number of theories on individual decision making under risk; much attention is specifically given to the definition and empirical testing of the concept of relative risk attitude, b) to investigate in a large scale survey the validity, reliability and practical feasibility of measurement procedures for measuring subjective probability distributions, risk attitude, and strength of preference, and c) to develop and test a model which describes the farmer's decision making process with respect to the choice of a marketing strategy for ware potatoes.
|Keywords||agricultural production, decision making, marketing behavior of farmers, marketing of ware potatoes, multiple method measurement, relative risk attitude, risk attitude, strength of preference, subjective probability distribution, utility / preference theory|
|Promotor||Meulenberg, M.T.G. , Wierenga, B. (Berend)|
|Publisher||Wageningen Agricultural University|
Smidts, A.. (1990, January). Decision making under risk. A study of models and measurement procedures with special reference to the farmers' marketing behavior (No. Wageningen Economic Studies No. 18). Wageningen Agricultural University. Retrieved from http://hdl.handle.net/1765/12166