Beyond Expected Utility: Risk Concepts for Agriculture from a Contemporary Mathematical Perspective
نویسنده
چکیده
• Abstract. Expected utIlity theory, the most prom! nent economIc model of how Indwlduals choose among alternatwe risks, exhIbIts serIOus defIcIen CieS In describing emplncally observed behavIOr Consequently, economIsts are actwely searching for a new paradIgm to descnbe behavIOr under nsk TheIr mathematical tools, such as functIOnal anal ys~s and measure theory, reflect a new, more sOphr-stlcated approach to nsk ThlS artzde de scnbes the new approach, explalns several of the mathematlcal concepts used, and Indlcates some of theIr connectIOns to agricultural modeling
منابع مشابه
A Study on Preference Orderings of Mathematical expectation, Expected Utility and Distorted Expectation
One of the challenges for decision-makers in insurance and finance is choosing the appropriate criteria for making decisions. Mathematical expectation, expected utility, and distorted expectation are the three most common measures in this area. In this article, we study these three criteria, and by providing some examples, we review and compare the decisions made by each measure.
متن کاملApplying Decision-Making Approaches to Health Risk-Taking Behaviors: Progress and Remaining Challenges.
This paper critically examines how risk-taking behaviors can be modeled from a decision-making perspective. We first review several applications of a decision perspective to the study of risk-taking behaviors, including studies that investigate consequence generation and the components of the overall utility (i.e., consequence, desirability, and likelihood) of risk-taking and studies that inves...
متن کاملCyber Medical Education: Beyond the Integration of Concepts in Technology-based Learning
Introduction: Along with the transition from the digital era to the era of cyber-technology, medical professionals have been forced to use different conceptual systems to meet their informational and communicational needs. These emerging scientific concepts each have specific meaning which should be redefined in their own context so that they could be utilized in the conceptual systems of speci...
متن کاملThe Quran's Description of Paradise in Connection to the Culture of the Time of Revelation from the Perspective of Contemporary Intellectuals: Analysis and Criticism
This article analyzes and critiques the contemporary Muslim intellectuals' views on the issue that the Quran has been influenced by the Arab culture of the time of revelation in describing the blessings of Paradise, and ultimately concludes that, in introducing a small part of the infinite blessings of Paradise desired and wished by all human beings in all ages, God has optimally utilized the ...
متن کاملAnalysis of Contemporary Indian Jewelry with the Dialogism approach of Mikhail Bakhtin (Case study: Indian Jewelry in 2020)
The Indian jewelry is something beyond merely being worn to adorn the body, and acts as a medium of Indian tradition, historical identity, and culture. Nowadays, what receives much attention from every viewer in the Indian society is the simultaneous presence of different cultures that are not expected to be removed in India, but are extend in the heart of the historical-cultural changes of Ind...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2011