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Sparse Data, Climatic Variability, and Yield Uncertainty in Response Analysis
Author(s) -
Anderson Jock R.
Publication year - 1973
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238667
Subject(s) - smoothing , econometrics , risk aversion (psychology) , yield (engineering) , statistics , computer science , mathematics , expected utility hypothesis , materials science , metallurgy
A method based on smoothing sparse data is developed for assessment of risk in crop response processes when only few data are available. An empirical example illustrates how optimal inputs depend on degree of risk aversion when controlled inputs influence risk.