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Shadow Price Implications Of Second Degree Stochastic Dominance Efficiency

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  • McCamley, Francis P.
  • Rudel, Richard K.

Abstract

Second degree stochastic dominance (SSD) can be, but seldom is explicitly, applied to problems having continuous variables. A model is presented which, for any SSD efficient solution, facilitates exploration of the set of SSD consistent shadow prices. The model is tested by applying it to a problem described by Hazell.

Suggested Citation

  • McCamley, Francis P. & Rudel, Richard K., 2000. "Shadow Price Implications Of Second Degree Stochastic Dominance Efficiency," 2000 Annual Meeting, June 29-July 1, 2000, Vancouver, British Columbia 36370, Western Agricultural Economics Association.
    • Handle: RePEc:ags:waeava:36370
    DOI: 10.22004/ag.econ.36370
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    References listed on IDEAS

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    1. P. B. R. Hazell, 1971. "A Linear Alternative to Quadratic and Semivariance Programming for Farm Planning under Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(1), pages 53-62.
    2. P. B. R. Hazell, 1971. "A Linear Alternative to Quadratic and Semivariance Programming for Farm Planning under Uncertainty: Reply," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(4), pages 664-665.
    3. Kliebenstein, James & McCamley, Francis, 1991. "Characteristics of the Set of Dual Solutions of the Target MOTAD Model," WAEA/ WFEA Conference Archive (1929-1995) 321424, Western Agricultural Economics Association.
    4. Dybvig, Philip H & Ross, Stephen A, 1982. "Portfolio Efficient Sets," Econometrica, Econometric Society, vol. 50(6), pages 1525-1546, November.
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    1. McCamley, Francis P. & Rudel, Richard K., 2001. "Shadow Price Implications Of Several Stochastic Dominance Criteria," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36163, Western Agricultural Economics Association.

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