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Application of mean–Gini stochastic efficiency analysis

Application of mean–Gini stochastic efficiency analysis This article adds to the information base concerning the applicability of mean–Gini stochastic efficiency analysis in agriculture. The mean–Gini efficient set of decisions is characterized rigorously in terms of its corresponding absolute risk aversion. In an empirical analysis, the mean–Gini efficient set of decisions is derived for four studies from the literature and compared to the second degree stochastic dominance efficient set. An alternative quantitative measure of risk aversion is used to gain insight in a visceral sense to the risk preferences associated with mean–Gini efficient decisions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

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Publisher
Wiley
Copyright
Copyright © 1997 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/1467-8489.00003
Publisher site
See Article on Publisher Site

Abstract

This article adds to the information base concerning the applicability of mean–Gini stochastic efficiency analysis in agriculture. The mean–Gini efficient set of decisions is characterized rigorously in terms of its corresponding absolute risk aversion. In an empirical analysis, the mean–Gini efficient set of decisions is derived for four studies from the literature and compared to the second degree stochastic dominance efficient set. An alternative quantitative measure of risk aversion is used to gain insight in a visceral sense to the risk preferences associated with mean–Gini efficient decisions.

Journal

The Australian Journal of Agricultural Resource EconomicsWiley

Published: Mar 1, 1997

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