AGRICULTURAL ECONOMICS, INTERDEPENDENCE AND UNCERTAINTY*

Agricultural, Food and Resource Economics

Sample Courses and Course Materials in Agricultural Economics Supported in part by the National Science Foundation, the DLESE offers access to electronic materials in all aspects of earth science education, including agricultural economics, for both teachers and learners at all levels. Has searchable database with such materials as maps, images, online courses, field and lab activities, curricu...

Purdue Agricultural Economics Report

Economics of Uncertainty and Information

This chapter gives a non-technical overview of the main topics in the economics of uncertainty and information. We begin by distinguishing between uncertainty and risk and defining possible attitudes to risk. We then focus on risk-aversion and examine its role in insurance markets. The next topic is asymmetric information, that is, situations where two parties to a potential transaction do not ...

Uncertainty in Environmental Economics

An introductory course in environmental economics typically teaches students that the design and evaluation of a policy to deal with an environmental problem boils down to cost-benefit analysis. The instructor might proceed as follows. Left to their own, humans (i.e., producers and consumers) do bad things to the environment, such as polluting rivers and lakes, spewing sulfur dioxide into the a...

Botnet Economics: Uncertainty Matters

Botnets have become an increasing security concern in today’s Internet. Thus far the mitigation to botnet attacks is a never ending arms race focusing on technical approaches. In this paper, we model botnet-related cybercrimes as a result of profit-maximizing decision-making from the perspectives of both botnet masters and renters/attackers. From this economic model, we can understand the effec...