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MEAN‐GINI ANALYSIS, STOCHASTIC EFFICIENCY AND WEAK RISK AVERSION
Author(s) -
Buccola Steven T.,
Subaei Abdelbagi
Publication year - 1984
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.1467-8489.1984.tb00641.x
Subject(s) - stochastic dominance , pooling , risk aversion (psychology) , dominance (genetics) , gini coefficient , economics , econometrics , inequity aversion , mathematics , mathematical economics , microeconomics , statistics , inequality , computer science , expected utility hypothesis , biology , artificial intelligence , mathematical analysis , biochemistry , economic inequality , gene
Stochastic dominance methods lately have been used to derive efficient strategies for given risk aversion intervals. A new decision approach, which makes use of the Gini coefficient, is shown to represent effectively the preferences of weakly risk averse individuals. The approach also has distinct advantages over stochastic dominance analysis. An application is provided of farmers' choices among alternative co‐operative pooling rules.