TY - JOUR
T1 - AN APPROACH TO THE ECONOMETRIC ESTIMATION OF ATTITUDES TO RISK IN AGRICULTURE
T2 - COMMENT
AU - Bar‐Shira, Ziv
PY - 1991/12
Y1 - 1991/12
N2 - Bardsley and Harris (1987) test empirically the effects of changes In deterministic wealth and random income on the measure partial risk aversion. The paper, which is otherwise well written, failed to impose the relationship between the two effects and estimated them independently. Consequently, inconsistent estimates were derived for the elasticities of the measure of partial risk aversion with respect to wealth and to income. The purpose of this comment is to derive that relationship theoretically and to point out the resulting inconsistencies in the original paper. 1991 The Australian Agricultural Economics Society
AB - Bardsley and Harris (1987) test empirically the effects of changes In deterministic wealth and random income on the measure partial risk aversion. The paper, which is otherwise well written, failed to impose the relationship between the two effects and estimated them independently. Consequently, inconsistent estimates were derived for the elasticities of the measure of partial risk aversion with respect to wealth and to income. The purpose of this comment is to derive that relationship theoretically and to point out the resulting inconsistencies in the original paper. 1991 The Australian Agricultural Economics Society
UR - http://www.scopus.com/inward/record.url?scp=84990163258&partnerID=8YFLogxK
U2 - 10.1111/j.1467-8489.1991.tb00512.x
DO - 10.1111/j.1467-8489.1991.tb00512.x
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AN - SCOPUS:84990163258
SN - 0004-9395
VL - 35
SP - 315
EP - 318
JO - Australian Journal of Agricultural Economics
JF - Australian Journal of Agricultural Economics
IS - 3
ER -