This book gives a nice overview of techniques that have been used by agriculture economists to facilitate risky decision-making. Someone who has received solid training in microeconmic theory, mathematical statistics, & operations research will benefit from reading this book. For example, the practical meaning of certain equivalens & risk aversion now becomes much more clear to me. On top of that, I find some tools that combine stochastic simulation and expected utility are useful to consulting and research.
One word of caution, this is not the right book for someone who is seeking for a rigorous theoretical treatment. Nonetheless, this piece itself is valuable to an analytical mind from both scholastic and pragamatic viewpoints.

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Coping with Risk in Agriculture Paperback – 24 March 2004
by
J B Hardaker
(Author),
R B M Huirne
(Author),
J R Anderson
(Author)
&
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J B Hardaker
(Author)
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Paperback, 24 March 2004 |
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Product details
- Publisher : CABI; First edition (24 March 2004)
- Language : English
- Paperback : 352 pages
- ISBN-10 : 0851998313
- ISBN-13 : 978-0851998312
- Dimensions : 23.11 x 1.78 x 15.49 cm
- Customer Reviews:
Product description
Review
I really enjoyed ready this book. I can recommend it without hesitation as a basic text. "
This is a very useful text which should be on the shelf of anyone interested in the analysis of decisions at the farm level. "
"An ambitious, comprehensive compendium of modern methods and techniques."
Reviews from the first edition: "There is no doubt that this textbook is viewed as a sound guide on managing risk in agriculture. It will certainly remain a leading textbook in farm management."
This is a very useful text which should be on the shelf of anyone interested in the analysis of decisions at the farm level. "
"An ambitious, comprehensive compendium of modern methods and techniques."
Reviews from the first edition: "There is no doubt that this textbook is viewed as a sound guide on managing risk in agriculture. It will certainly remain a leading textbook in farm management."
About the Author
J. Brian Hardaker, Professor, Graduate School of Agricultural and Resource Economics, University of New England (Emeritus). Ruud B. M. Huirne, Professor of Farm Management, Wageningen University. Jock R. Anderson, Adviser, World Bank, Washington, D.C..
Customer reviews
4.5 out of 5 stars
4.5 out of 5
3 global ratings
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HowardChuang
4.0 out of 5 stars
A nice overview
Reviewed in the United States on 20 February 2011Verified Purchase
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Mike
4.0 out of 5 stars
A good reference in this field.
Reviewed in the United States on 19 February 2015Verified Purchase
An a very good reference for those who want to properly deal with decision analysis under uncertainty in agriculture
Monte Carlo simulation examples based on @Risk as well as other applied financial theories make this reading a must.
Monte Carlo simulation examples based on @Risk as well as other applied financial theories make this reading a must.