A decision framework for a farmer who is risk averse in the Arrow-Pratt sense and downside risk averse
نویسندگان
چکیده
منابع مشابه
Risk averse decision making under catastrophic risk
A nonstandard probabilistic setting for modeling of the risk of catastrophic events is presented. It allows random variables to take on infinitely large negative values with non-zero probability, which corresponds to catastrophic consequences unmeasurable in monetary terms, e.g. loss of human lives. Thanks to this extension, the safety-first principle is proved to be consistent with traditional...
متن کاملCoordination of Supply Chains with Downside-risk-averse Agents
Coordinating supply chains has been a major issue in supply chain management research. This paper focuses on the coordination of supply chains with downside-risk-averse agents. Motivating by the revenue sharing contract, we developed the sufficient conditions for the coordination of the supply chain with one downside-risk-averse agent. Following the sufficient conditions, the downside protectio...
متن کاملRisk-averse decision making in overbooking problem
Huachun Xiong, Jinxing Xie, Xiaoxue Deng Department of Mathematical Sciences, Tsinghua University, Beijing 100084, China Abstract Traditional literature studying overbooking problems focuses on risk-neutral decision makers. In this paper, we propose a multi-period overbooking model incorporating risk-aversion and extend well-known structural results (the 3-region policy) under the risk-neutral ...
متن کاملA test for risk-averse expected utility
We provide a condition for rationalizability by risk-averse expected utility preference in a demand-based framework with multiple commodities, which is a UNCAF statement in the sense of Chambers et al. (2014). Our test can be viewed as a natural counterpart of a classical test of expected utility, due to Fishburn (1975), in a demand setting.
متن کاملMechanism Design for a Risk Averse Seller
We develop efficient algorithms to construct approximately utility maximizing mechanisms for a risk averse seller in the presence of potentially risk-averse buyers in Bayesian single parameter and multiparameter settings. We model risk aversion by concave utility function. Bayesian mechanism design has usually focused on maximizing expected revenue in a risk-neutral environment, i.e. where all ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Economia Agraria y Recursos Naturales
سال: 2014
ISSN: 1578-0732
DOI: 10.7201/earn.2014.02.01