SENSITIVITY OF FARM PLANS UNDER RISK‐AVERSE BEHAVIOUR: A NOTE ON THE ENVIRONMENTAL IMPLICATIONS
研究发现，当风险规避的农民追求效用最大化时，农场土地利用强度对预期收入的微小下降极为敏感，这意味着收入不稳定可能促使农民采用更粗放的耕作方式，从而有助于实现环境政策目标。
This study demonstrates that the intensity of farm‐level land use can be extremely sensitive to minor reductions in expected farm income when the risk‐averse farmer makes utility maximising decisions. The study uses directly elicited utility functions for farmers in the North of England in conjunction with MOTAD generated E, V frontiers. The results imply that instability encourages the use of less intensive farming methods and therefore could actually assist the achievement of environmental policy goals.