TY - JOUR
T1 - Framing the Allais paradox as a daily farm decision problem
T2 - Tests and explanations
AU - Finkelshtain, Israel
AU - Feinerman, Eli
PY - 1997/1
Y1 - 1997/1
N2 - The well-known Allais paradox is reformulated as a daily far decision problem. Only 26% of the farmers exhibit violations of the expected utility hypothesis. Moreover, the tendency for violation decreases with the farm operator's education, experience and family size. No effects of the farm main crop or its scale were detected. Finally, when taking into account the possibility of choice errors, we find that the violation rate is statistically insignificant.
AB - The well-known Allais paradox is reformulated as a daily far decision problem. Only 26% of the farmers exhibit violations of the expected utility hypothesis. Moreover, the tendency for violation decreases with the farm operator's education, experience and family size. No effects of the farm main crop or its scale were detected. Finally, when taking into account the possibility of choice errors, we find that the violation rate is statistically insignificant.
UR - http://www.scopus.com/inward/record.url?scp=0030618035&partnerID=8YFLogxK
U2 - 10.1016/S0169-5150(96)01199-1
DO - 10.1016/S0169-5150(96)01199-1
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AN - SCOPUS:0030618035
SN - 0169-5150
VL - 15
SP - 155
EP - 167
JO - Agricultural Economics (United Kingdom)
JF - Agricultural Economics (United Kingdom)
IS - 3
ER -