英文文献:Farmland Control Decisions under Different Intertemporal Risk Behavioral Constructs-不同跨期风险行为构建下的农田控制决策
英文文献作者:Escalante, Cesar L.,Rejesus, Roderick M.
英文文献摘要:
Simulation-optimization techniques are employed to analyze changes in farmland control arrangements as a result of using different constructs of intertemporal risk behavior. Risk behavior based on constant absolute risk aversion (CARA) and constant relative risk aversion (CRRA) mean-standard deviation functions are used to achieve this objective. Specfically, a multi-period programming framework for a representative grain farm is developed to explore farmland control decisions under these two behavioral assumptions. Our results suggest that the use of a CRRA behavioral construct in analyzing farmland control decisions produce predictions that are more consistent with observed farm behavior.
利用模拟优化技术分析了由于跨期风险行为不同构造而导致的农田治理安排变化。为了实现这一目标,我们使用了基于常数绝对风险厌恶(CARA)和常数相对风险厌恶(CRRA)均值标准差函数的风险行为。特别地,本文建立了一个具有代表性的粮食农场的多周期规划框架,以探讨在这两种行为假设下的农田控制决策。我们的结果表明,在分析农田控制决策时,使用CRRA行为构念所产生的预测更符合观察到的农场行为。


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