Expected utility or prospect theory maximisers? Assessing farmers' risk behaviour from field-experiment data

Choosing solutions under risk and uncertainty requires the consideration of several factors. One of the main factors in choosing a solution is modeling the decision maker’s attitude to risk. The expected utility theory was the first approach that allowed to correctly model various nuances of the attitude to risk. Further research in this area has led to the emergence of even more effective approaches to solving this problem. Currently, the most developed theory of choice with respect to decisions under risk conditions is the cumulative prospect theory. This paper presents the development history of various extensions of the original expected utility theory, and the analysis of the main properties of the cumulative prospect theory. The main result of this work is a fuzzy version of the prospect theory, which allows handling fuzzy values of the decisions (prospects). The paper presents the theoretical foundations of the proposed version, an illustrative practical example, and conclusions based on the results obtained.

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Inhibition or Facilitation? Contrasted Inter-Specific Interactions in Sphagnum under Laboratory and Field Conditions

Plants ◽

10.3390/plants9111554 ◽

2020 ◽

Vol 9 (11) ◽

pp. 1554

Author(s):

Chao Liu ◽

Zhao-Jun Bu ◽

Azim Mallik ◽

Yong-Da Chen ◽

Xue-Feng Hu ◽

...

Keyword(s):

Field Experiment ◽

Species Interactions ◽

Laboratory Experiments ◽

Resource Competition ◽

Specific Interactions ◽

Interaction Type ◽

Negative Effects ◽

Experiment Data ◽

The Stability ◽

Positive Effect

In a natural environment, plants usually interact with their neighbors predominantly through resource competition, allelopathy, and facilitation. The occurrence of the positive effect of allelopathy between peat mosses (Sphagnum L.) is rare, but it has been observed in a field experiment. It is unclear whether the stability of the water table level in peat induces positive vs. negative effects of allelopathy and how that is related to phenolic allelochemical production in Sphagnum. Based on field experiment data, we established a laboratory experiment with three neighborhood treatments to measure inter-specific interactions between Sphagnum angustifolium (Russ.) C. Jens and Sphagnum magellanicum Brid. We found that the two species were strongly suppressed by the allelopathic effects of each other. S. magellanicum allelopathically facilitated S. angustifolium in the field but inhibited it in the laboratory, and relative allelopathy intensity appeared to be positively related to the content of released phenolics. We conclude that the interaction type and intensity between plants are dependent on environmental conditions. The concentration of phenolics alone may not explain the type and relative intensity of allelopathy. Carefully designed combined field and laboratory experiments are necessary to reveal the mechanism of species interactions in natural communities.

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Comparison of the results of 85Kr transport modeling with the ACURATE field experiment data

Russian Meteorology and Hydrology ◽

10.3103/s1068373917030049 ◽

2017 ◽

Vol 42 (3) ◽

pp. 168-180 ◽

Cited By ~ 1

Author(s):

K. G. Rubinshtein ◽

A. N. Safronov ◽

D. A. Pripachkin ◽

R. Yu. Ignatov ◽

S. V. Emelina ◽

...

Keyword(s):

Field Experiment ◽

Transport Modeling ◽

Experiment Data ◽

Comparison Of The Results

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Assessment of crop growth and soil water modules in SWAT2000 using extensive field experiment data in an irrigation district of the Yellow River Basin

Journal of Hydrology ◽

10.1016/j.jhydrol.2008.01.003 ◽

2008 ◽

Vol 352 (1-2) ◽

pp. 139-156 ◽

Cited By ~ 77

Author(s):

Yi Luo ◽

Chansheng He ◽

Marios Sophocleous ◽

Zhifang Yin ◽

Ren Hongrui ◽

...

Keyword(s):

Field Experiment ◽

Soil Water ◽

River Basin ◽

Yellow River ◽

Yellow River Basin ◽

Irrigation District ◽

The Yellow River ◽

Experiment Data ◽

Extensive Field ◽

The Yellow River Basin

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Comparison of Spring Maize Root Water Uptake Models Under Water and Salinity Stress Validated with Field Experiment Data

Irrigation and Drainage ◽

10.1002/ird.1939 ◽

2015 ◽

Vol 64 (5) ◽

pp. 669-682 ◽

Cited By ~ 3

Author(s):

Qingming Wang ◽

Zailin Huo ◽

Shaoyuan Feng ◽

Chengfu Yuan ◽

Jianhua Wang

Keyword(s):

Field Experiment ◽

Water Uptake ◽

Salinity Stress ◽

Root Water Uptake ◽

Maize Root ◽

Experiment Data ◽

Spring Maize

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Head waves from thick layers according to field experiment data

International Geology Review ◽

10.1080/00206817509471545 ◽

1975 ◽

Vol 17 (12) ◽

pp. 1427-1439

Author(s):

A.M. Yepinat'yeva ◽

M.V. Nevskiy ◽

O.G. Popova ◽

N.F. Yukhnin

Keyword(s):

Field Experiment ◽

Experiment Data ◽

Head Waves ◽

Thick Layers

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How to Design Mobile Advertising: A Field Experiment with Wireless Telecommunication Technology

Advanced Materials Research ◽

10.4028/www.scientific.net/amr.760-762.656 ◽

2013 ◽

Vol 760-762 ◽

pp. 656-660

Author(s):

Jue Wang ◽

Yan Yan Xu ◽

Jiao Long Xue ◽

Zheng Fang

Keyword(s):

Field Experiment ◽

Poisson Model ◽

Product Type ◽

Mobile Advertising ◽

Experiment Data ◽

Empirical Results ◽

Telecommunication Technology ◽

Instrument Variable ◽

Wireless Telecommunication ◽

Rule Out

Although mobile advertising seemingly offers practitioners tremendous potential given the ubiquitous nature of reaching subscribers anywhere, we know very little about it. Base on field experiment data, the developed zero-inflated Poisson model reveals that distance, promotion and product type could affect sales impact of advertising while using wireless telecommunication technology. When estimating the model, we use latent instrument variable (LIV) approach to rule out possible endogeneity problem. The empirical results indicate that distance, promotion, product type trigger sales respectively, while only promotion increases sales amount.

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