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RISK, UTILITY AND THE PALATABILTY OF EXTENSION ADVICE TO FARMER GROUPS
Author(s) -
Officer R.R.,
Halter A.N.,
Dillon John L.
Publication year - 1967
Publication title -
australian journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 0004-9395
DOI - 10.1111/j.1467-8489.1967.tb00037.x
Subject(s) - extension (predicate logic) , advice (programming) , actuarial science , expected utility hypothesis , risk analysis (engineering) , psychology , management science , computer science , business , economics , mathematical economics , programming language
Using the results of an empirical study of farmers' utility functions, evidence is presented that risk plays a measurable role in farmer decision making. The extension implications of such risk influences are discussed with particular emphasis on the possible efficacy of using group utility functions as a basis for group recommendations.