Land Allocation under Uncertainty for Alternative Specifications of Return Distributions
推导了一种独立于回报分布形式且考虑所有矩的土地分配规则，并应用于密西西比三角洲棉花与玉米的选择，证明仅考虑前两矩在经验、理论和决策者效用上可能不合理且有害。
Abstract Using the expected utility‐moment‐generating function approach, a land allocation rule is derived which is both independent of the nature of the underlying distribution of each element in the choice set and accounts for all moments of that distribution. This decision rule is applied to the choice between cotton and corn in the Mississippi Delta to demonstrate that consideration of just the first two moments of the distribution can often be unjustified and damaging empirically, theoretically, and in terms of the utility of the decision maker.