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...

Agricultural producers typically are faced with risk about the yields they will experience and the prices they will receive. Stabilisation schemes can spread risk and thereby reduce the risk faced by individual producers. The risk-reducing capacity of a scheme and the cost of risk reduction...