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Mean-Gini Analysis, Stochastic Efficiency And Weak Risk Aversion

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  • Buccola, Steven T.
  • Subaei, Abdelbagi

Abstract

Stochastic dominance methods lately have been used to derive efficient strategies for given risk aversion intervals. A new decision approach, which makes use of the Gini coefficient, is shown to represent effectively the preferences of weakly risk averse individuals. The approach also has distinct advantages over stochastic dominance analysis. An application is provided of farmers' choices among alternative co-operative pooling rules.

Suggested Citation

  • Buccola, Steven T. & Subaei, Abdelbagi, 1984. "Mean-Gini Analysis, Stochastic Efficiency And Weak Risk Aversion," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 28(2-3), pages 1-10, August.
    • Handle: RePEc:ags:ajaeau:22431
    DOI: 10.22004/ag.econ.22431
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    File URL: https://ageconsearch.umn.edu/record/22431/files/28020077.pdf
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    References listed on IDEAS

    as
    1. Jock R. Anderson, 1975. "Programming For Efficient Planning Against Non‐Normal Risk," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 19(2), pages 94-107, August.
    2. Anderson, Jock R., 1974. "Risk Efficiency in the Interpretation of Agricultural Production Research," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(03), pages 1-54, September.
    3. Bond, Gary E. & Wonder, Bernard, 1980. "Risk Attitudes Amongst Australian Farmers," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 24(1), pages 1-19, April.
    4. Gary E. Bond & Bernard Wonder, 1980. "Risk Attitudes Amongst Australian Farmers," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 24(1), pages 16-34, April.
    5. Gastwirth, Joseph L, 1972. "The Estimation of the Lorenz Curve and Gini Index," The Review of Economics and Statistics, MIT Press, vol. 54(3), pages 306-316, August.
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    Cited by:

    1. Bailey, Elizabeth & Boisvert, Richard N., 1989. "A Comparison Of Risk Efficiency Criteria In Evaluating Groundnut Performance In Drought-Prone Areas," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 33(3), pages 1-17, December.
    2. Drynan, Ross G., 1986. "A Note On Optimal Rules For Stochastic Efficiency Analysis," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(1), pages 1-10, April.
    3. Teerachai Amnuaylojaroen & Pavinee Chanvichit & Radshadaporn Janta & Vanisa Surapipith, 2021. "Projection of Rice and Maize Productions in Northern Thailand under Climate Change Scenario RCP8.5," Agriculture, MDPI, vol. 11(1), pages 1-15, January.
    4. Hardaker, J. Brian & Pandey, Sushil & Patten, Louise H., 1991. "Farm Planning under Uncertainty: A Review of Alternative Programming Models," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(01), pages 1-14, April.

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    Keywords

    Risk and Uncertainty;

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