THE USE OF A DECISION MAKER'S UTILITY FUNCTION IN A LINEAR PROGRAMMING ANALYSIS OF AGRICULTURAL POLICY
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Resumen
Descripción
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.