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Multiattribute Utility Analysis: The Case of Filipino Rice Policy
Author(s) -
Rausser Gordon C.,
Yassour Joseph
Publication year - 1981
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 - 10.2307/1240539
Subject(s) - public economics , equity (law) , public policy , economics , value (mathematics) , policy analysis , principal (computer security) , empirical evidence , risk aversion (psychology) , agriculture , inequity aversion , microeconomics , actuarial science , inequality , political science , economic growth , financial economics , computer science , expected utility hypothesis , public administration , geography , law , operating system , mathematical analysis , mathematics , philosophy , archaeology , epistemology , machine learning
Major uncertainties and conflicting objectives often arise in public policy analysis. This paper advances a framework that is appropriate for public policy problems frequently encountered in agriculture and food systems. Among other possible benefits, its principal value is to provide focus on the major conflicts, trade‐offs, and subjective perceptions among affected groups. It can be used to isolate major disagreements, needed empirical evidence, appropriate degrees of risk aversion, equity value judgments, and consensus solutions. In an empirical setting, the framework is used to evaluate price policy for rice in the Philippines.