Single-index models from portfolio theory have previously been adapted for risk efficient farm planning in North America. The potential for using single-index models in farm planning is considered in this paper both theoretically and in the light of two illustrative Australian case studies. It...

A model is developed from decision theory for evaluating probabilistic information, especially for decision makers who are risk averse. The value of information to such a decision maker is disaggregated into mean and variance effects. It is shown that the degree of risk aversion of the decision...

The objective of this paper is to give a brief exposition of the decision criteria commonly propounded for decisions under risk and uncertainty. The review of these criteria in the context of farm management decisions reiterates the inappropriateness of all except the expected utility...

Recent applications of risk analysis in corporate finance to farm firm decision making are reviewed in this paper. The inclusion of risk parameters modifies some of the traditional agricultural economics views on investment, financing and the portfolio choice problem. A clearer view emerges of...