DYNAMIC DECISIONS UNDER RISK - APPLICATION OF ITO STOCHASTIC-CONTROL IN AGRICULTURE

被引：14

作者：

HERTZLER, G

机构：

来源：

AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS | 1991年 / 73卷 / 04期

关键词：

AGRICULTURE; RISK; STOCHASTIC CALCULUS; STOCHASTIC CONTROL;

D O I：

10.2307/1242441

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

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.

引用

页码：1126 / 1137

页数：12

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