Dynamic Decisions under Risk: Application of Ito Stochastic Control in Agriculture
介绍伊藤随机控制的假设和方法，构建农业风险下的动态决策模型，并用四个例子说明其应用，适合关注农业经济理论的研究者。
Abstract In agricultural economics, most studies of dynamic decisions under risk have been empirical with less emphasis on theory. In finance, resource economics, and general economics, however, Ito stochastic control is popular for theoretical work. Optimal decisions can be characterized using the powerful Ito stochastic calculus. This paper describes the assumptions and methods of Ito control, constructs a dynamic model of agricultural decisions under risk, and illustrates with four examples.