Are we risking too much? Perspectives on risk in farm modelling and farm management
Document Type
Conference Proceeding
Publication Date
2-1995
Conference Title
Australasian Agricultural and Resource Economics Society (AARES), AARES Conferences, 1995 Conference (39th), February 14-16, 1995, Perth, Australia
Place of Publication
Perth
Keywords
Farm modelling, Farm management, Risk, Risk management, Agricultural economists, Economic consequences, Agricultural risk
Disciplines
Agribusiness | Agricultural Economics | Agricultural Science | Agronomy and Crop Sciences | Natural Resource Economics | Natural Resources Management and Policy | Risk Analysis
Abstract
Risk and uncertainty have been extensively studied by agricultural economists. In this paper we question some practices and beliefs which arc common among agricultural economists. The most important of these arc (a) the predominant use of static (strategic) frameworks to formally analyse risk, (b) the predominant focus on risk aversion as the motivation for considering risk, (c) the idea that stochastic (i.e. explicitly probabilistic) models are likely to be helpful to farmers in their decision making and (d) the idea that study of risk in agriculture is likely to be an area of especially high social returns.
Recommended Citation
Pannell, D J,
Malcolm, B,
and
Kingwell, R S.
(1995), Are we risking too much? Perspectives on risk in farm modelling and farm management, Australasian Agricultural and Resource Economics Society (AARES), AARES Conferences, 1995 Conference (39th), February 14-16, 1995, Perth, Australia, Perth, pp.1-17.
https://library.dpird.wa.gov.au/conf_papers/252
