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Efficiency Criteria and Risk Aversion: An Empirical Evaluation
Published online by Cambridge University Press: 28 April 2015
Abstract
A conceptual link among mean-variance (EV), stochastic dominance (SD), mean-risk (ET), and Gini mean difference (EG) is established for determining risk efficient decision sets. The theoretical relations among the various efficiency criteria are then empirically demonstrated with a soybean and wheat double-crop simulation model. Empirical results associated with extended Gini mean difference (EEG) and extended mean-absolute Gini (EEΓ) for risk analysis are encouraging.
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- Copyright © Southern Agricultural Economics Association 1988
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