Rae A. (1971). Stochastic programming, utility, and sequential decision problems in farm management. American journal of agricultural economics, 01/08/1971, vol. 53, n. 3, p. 448-460.
https://doi.org/10.2307/1238222
https://doi.org/10.2307/1238222
Titre : | Stochastic programming, utility, and sequential decision problems in farm management (1971) |
Auteurs : | A. Rae |
Type de document : | Article |
Dans : | American journal of agricultural economics (vol. 53, n. 3, August 1971) |
Article en page(s) : | p. 448-460 |
Langues : | Anglais |
Langues du résumé : | Anglais |
Catégories : |
Thésaurus IAMM GESTION DE L'EXPLOITATION AGRICOLE ; PRISE DE DECISION ; METHODE STATISTIQUE ; MODELE ECONOMETRIQUECatégories principales 06 - AGRICULTURE. FORÊTS. PÊCHES ; 6.5 - Gestion des Exploitations |
Résumé : | This paper presents a further development of discrete stochastic programming, viewed within the context of Bayesian decision theory. Some probability models and information structures (with and without additional information) are discussed, followed by an indication of how the stochastic programming matrix may be set up to reflect the various information structures. Some expected utility theories are then reviewed, and their usefulness in allowing the specification of a wide variety of objective functions for the stochastic programming model is illustrated. Lastly, a method is presented for determining the money value of additional information, additional resources, and the expected cost of uncertainty. |
Cote : | Réservé lecteur CIHEAM |
URL / DOI : | https://doi.org/10.2307/1238222 |