IDEAS home Printed from https://ideas.repec.org/a/ags/ajaeau/22971.html
   My bibliography  Save this article

The Use Of A Decision Maker'S Utility Function In A Linear Programming Analysis Of Agricultural Policy

Author

Listed:
  • Parton, Kevin A.

Abstract

A decision theoretic approach to agricultural policy decision making is examined to discover whether a utility function of an Australian Wool Corporation decision maker can be established and, if so, whether this can be used to improve the policy analysing performance of an agricultural sector linear programming model. After discussing the theoretical requirements of the utility function elicitation and the elicitation procedures, the characteristics of the resulting functions are examined. A means for its inclusion in a linear programming framework is described and some analysis of policy is carried out. The general conclusions are that the relevance of the agricultural sector analysis is enhanced by the use of such a utility function.

Suggested Citation

  • Parton, Kevin A., 1979. "The Use Of A Decision Maker'S Utility Function In A Linear Programming Analysis Of Agricultural Policy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(3), pages 1-13, December.
    • Handle: RePEc:ags:ajaeau:22971
    DOI: 10.22004/ag.econ.22971
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/22971/files/23030207.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.22971?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Wicks, J.A. & Dillon, J.L., 1978. "The Influence of the Rate of Growth of Labour Productivity on Australian Farm Output and Net Farm Incomes," Economic Analysis and Policy, Elsevier, vol. 8(2), pages 2-20.
    2. Anderson, Jock R. & Dillon, John L. & Hardaker, Brian, 1977. "Agricultural Decision Analysis," Monographs: Applied Economics, AgEcon Search, number 288652, November.
    3. Anderson, Jock R. & Feder, Gershon, 2007. "Agricultural Extension," Handbook of Agricultural Economics, in: Robert Evenson & Prabhu Pingali (ed.), Handbook of Agricultural Economics, edition 1, volume 3, chapter 44, pages 2343-2378, Elsevier.
    4. Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation for Research in Economics, Yale University.
    5. Dillon, John L. & Perry, Chad, 1977. "Multiattribute Utility Theory, Multiple Objectives And Uncertainty In Ex Ante Project Evaluation," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 45(01-2), pages 1-25, March.
    6. van der Loeff, S. Schim & Harkema, R., 1975. "Estimating Preference Functions And The Theory Of Rational Random Behavior: The Single Period Approach," Econometric Institute Archives 272073, Erasmus University Rotterdam.
    7. Jeffrey P. Krischer, 1976. "Utility Structure of a Medical Decision-Making Problem," Operations Research, INFORMS, vol. 24(5), pages 951-972, October.
    8. Johansen, Leif, 1974. "Establishing preference functions for macroeconomic decision models : Some observations on Ragnar Frisch's contributions," European Economic Review, Elsevier, vol. 5(1), pages 41-66, June.
    9. William C. Giauque & Thomas C. Peebles, 1976. "Application of Multidimensional Utility Theory in Determining Optimal Test-Treatment Strategies for Streptococcal Sore Throat and Rheumatic Fever," Operations Research, INFORMS, vol. 24(5), pages 933-950, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anderson, J.R., 1989. "Forecasting, uncertainty, and public project appraisal," Policy Research Working Paper Series 154, The World Bank.
    2. Anderson, Kim B. & Mapp, Harry P., Jr., 1996. "Risk Management Programs In Extension," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(1), pages 1-8, July.
    3. Serrao, Amilcar & Coelho, Luis, 2004. "Cumulative Prospect Theory: A Study Of The Farmers' Decision Behavior In The Alentejo Dryland Region Of Portugal," 2004 Annual meeting, August 1-4, Denver, CO 20245, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Gomez-Limon, Jose Antonio & Riesgo, Laura & Arriaza Balmón, Manuel, 2003. "Multi-Criteria Analysis Of Factors Use Level: The Case Of Water For Irrigation," 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa 25836, International Association of Agricultural Economists.
    5. Parton, Kevin A., 2009. "Agricultural Decision Analysis: The Causal Challenge," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 48150, Australian Agricultural and Resource Economics Society.
    6. Rasmussen, Svend, 2003. "Criteria for optimal production under uncertainty. The state-contingent approach," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(4), pages 1-30.
    7. Berg, Ernst & Starp, Michael, 2006. "Farm Level Risk Assessment Using Downside Risk Measures," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25400, International Association of Agricultural Economists.
    8. Hammida, Mustapha & Eidman, Vernon R., 1991. "Livestock And Poultry Production Risk In The United States," Staff Papers 14016, University of Minnesota, Department of Applied Economics.
    9. Gempesaw, Conrado M., II & Tambe, A.M. & Nayga, Rodolfo M., Jr. & Toensmeyer, Ulrich C., 1988. "The Single Index Market Model In Agriculture," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 17(2), pages 1-9, October.
    10. Musser, Wesley N. & Tew, Bernard V., 1984. "Use Of Biophysical Simulation In Production Economics," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 16(1), pages 1-10, July.
    11. J.C. Flinn & S. Jayasuriya & C.G. Knight, 1980. "Incorporating Multiple Objectives In Planning Models Of Low‐Resource Farmers," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 24(1), pages 35-45, April.
    12. Bennett, Anne L. & Pannell, David J., 1998. "Economic evaluation of a weed-activated sprayer for herbicide application to patchy weed populations," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(4), pages 1-20.
    13. Gollin, Douglas, 2006. "Impacts of International Research on Intertemporal Yield Stability in Wheat and Maize: An Economic Assessment," Impact Studies 7657, CIMMYT: International Maize and Wheat Improvement Center.
    14. Sinden, Jack A., 1978. "Estimation Of Consumer'S Surplus Values For Land Policies," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 22(2-3), pages 1-19, August.
    15. Lajili, Kaouthar & Barry, Peter J. & Sonka, Steven T. & Mahoney, Joseph T., 1997. "Farmers' Preferences For Crop Contracts," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(2), pages 1-17, December.
    16. George Baourakis & Michael Doumpos & Nikos Kalogeras & Constantin Zopounidis, 2002. "Multicriteria analysis and assessment of financial viability of agribusinesses: The case of marketing co-operatives and juice-producing companies," Agribusiness, John Wiley & Sons, Ltd., vol. 18(4), pages 543-558.
    17. John O.S. Kennedy, 1980. "On The Derivation Of Indifference Curves For Estimating Consumer Surplus," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 24(3), pages 291-295, December.
    18. Kaylen, Michael S. & Devino, Gary T. & Procter, Michael H., 1988. "Optimal Use Of Qualitative Models: An Application To Country Grain Elevator Bankruptcies," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(2), pages 1-7, December.
    19. Farquharson, Robert J., 1991. "A Farm Level Evaluation of a New Twinning Technology in Beef Cattle," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(01), pages 1-21, April.
    20. Unknown, 1997. "A New Soil Conservation Methodology and Application to Cropping Systems in Tropical Steeplands: A comparative synthesis of results obtained in ACIAR Project PN 9201," Technical Reports 113906, Australian Centre for International Agricultural Research.

    More about this item

    Keywords

    Agricultural and Food Policy;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ajaeau:22971. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.