Article ID: | iaor20011811 |
Country: | Netherlands |
Volume: | 94 |
Issue: | 1 |
Start Page Number: | 57 |
End Page Number: | 68 |
Publication Date: | Jul 2000 |
Journal: | Annals of Operations Research |
Authors: | Romero Carlos |
Keywords: | risk, decision theory: multiple criteria |
This paper develops an approach to deal with risk in agricultural decisions. Although the model is in line with the ‘Prospect ranking theory’ and the ‘Partitioned multiobjective risk method’, which recognise the multidimensional character of any risk measure taken in agricultural decision-making problems, its behavioural hypothesis and analytical development are totally different. The way in which the approach works is illustrated through a simple but well-known example in agricultural planning.