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Filtering by: Creator Morgenstern, U. Remove constraint Creator: Morgenstern, U. Subject Agriculture -- Economic aspects Remove constraint Subject: Agriculture -- Economic aspects

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  • Risk modeling using direct solution of expected utility maximization problems

    Creator:
    Lambert, David K.
    Abstract:
    A model of agricultural decision making is developed and tested in this thesis. The expected value of utility evaluated under alternative outcomes is directly maximized in a nonlinear programming model. Two features of the model distinguished it from traditional risk programming models. First, alternative attitudes towards the assumption of risk...
    Resource Type:
    Dissertation
    Full Text:
    Morgenstern, 1947]. The NM proof is dependent upon a set of axioms posited to describe a rational process by

  • An integration of market structure theory and decision making in selected agricultural industries

    Creator:
    Gilbert, Howard Alden
    Abstract:
    This research was designed to test the applicability of commonly accepted market structure theory to firm behavior within agricultural processing industries. The research was primarily concerned with testing the influence of relative firm size on discretionary management decisions. Statements from economic theory concerning structural influences on behavior comprised the hypotheses....
    Resource Type:
    Dissertation
    Full Text:
    ' level of output and employment. John von Neumann and Oskar Morgenstern (1947) have proposed a minimax