Ambiguity Aversion and Portfolio Choice in Small-Scale Peruvian Farming

2011 ◽  
Vol 11 (1) ◽  
Author(s):  
James C. Engle Warnick ◽  
Javier Escobal ◽  
Sonia C. Laszlo
Keyword(s):  
Decision Making ◽  
Risk Aversion ◽  
Portfolio Choice ◽  
New Technologies ◽  
Ambiguity Aversion ◽  
Small Scale ◽  
Main Crop ◽  
On Farm ◽  
New Evidence

Abstract While the effect of risk aversion on farmers' decision-making has long been documented, far less is known about the effect of ambiguity aversion. We argue that ambiguity aversion is just as relevant to their decision-making process because they are uncertain about the yield distributions generated by new technologies. By experimentally measuring risk and ambiguity aversion in rural Peru, we provide new evidence on the role of ambiguity aversion on farm decisions in developing countries: ambiguity aversion, not risk aversion, reduces the likelihood that farmers plant more than one variety of their main crop.

A critical review and re-assessment of theories of smallholder decision-making: a case of conservation agriculture households, Zambia

2013 ◽  
Vol 29 (3) ◽  
pp. 277-290 ◽  
Author(s):  
Bridget Bwalya Umar
Keyword(s):  
Decision Making ◽  
Economic Development ◽  
Agricultural Development ◽  
Potential Role ◽  
New Technologies ◽  
Rural Livelihoods ◽  
Conservation Agriculture ◽  
Economic Incentives ◽  
Uncertain Environments

AbstractDifferent theories have been posited that try to explain the decision-making process of smallholders especially regarding the adoption of new technologies or new agricultural techniques. The objective of this paper is to review and re-assess the dominant household production theories to explain the decision making of smallholders practicing conservation agriculture (CA) in the southern, eastern, and central provinces of Zambia. It also discusses the potential role of CA toward economic development. It finds that the CA smallholders studied did not aim to maximize profits but tried to secure household consumption from their own production before any other considerations in risky and uncertain environments. Their response to economic incentives was contingent on minimizing risks associated with securing a minimum level of livelihood and investing into local forms of insurance. This paper concludes that the ability for CA to contribute to rural livelihoods and economic development would depend on how adequately the factors that hinder smallholder agricultural development in general are addressed.

Big Data Myth

2019 ◽  
pp. 223-237
Author(s):  
Agata Mardosz-Grabowska
Keyword(s):  
Decision Making ◽  
Big Data ◽  
Data Analysis ◽  
Qualitative Data ◽  
New Technologies ◽  
Marketing Management ◽  
Individual Experience ◽  
Decision Making Process

Organizations are expected to act rationally; however, mythical thinking is often present among their members. It refers also to myths related to technology. New inventions and technologies are often mythologized in organizations. People do not understand how new technologies work and usually overestimate their possibilities. Also, myths are useful in dealing with ambivalent feelings, such as fears and hopes. The text focuses on the so-called “big data myth” and its impact on the decision-making process in modern marketing management. Mythical thinking related to big data in organizations has been observed both by scholars and practitioners. The aim of the chapter is to discuss the foundation of the myth, its components, and its impact on the decision-making process. Among others, a presence of a “big data myth” may be manifested by over-reliance on data, neglecting biases in the process of data analysis, and undermining the role of other factors, including intuition and individual experience of marketing professionals or qualitative data.

Game Outcome Uncertainty and Television Audience Demand: New Evidence from German Football

2018 ◽  
Vol 19 (2) ◽  
pp. 140-161 ◽  
Author(s):  
◽  
Benno Torgler ◽  
Sascha L. Schmidt
Keyword(s):  
Decision Making ◽  
Economic Literature ◽  
Game Outcome ◽  
European Football ◽  
Knockout Tournament ◽  
Television Audience ◽  
New Evidence ◽  
Uncertainty Of Outcome

Abstract Despite its prominence in the economic literature, our knowledge regarding the role of game outcome uncertainty (GOU) in spectator decision-making is fairly limited. Even worse, studies testing the uncertainty of outcome hypothesis (UOH) by exploring TV demand for European football have further intensified the original ambiguity. In this paper, we revisit the role of GOU in spectator decision-making by testing the UOH with regard to two different sporting products: (1) domestic league and (2) knockout tournament games. Analyzing TV demand for almost 1,500 German football games, we find support for the UOH in league, though not in knockout tournament games.

scholarly journals Factors Affecting Farm Performance among Small-Scale Farmers in the Volcanic Highlands of Rwanda: What is the Role of Institutions?

2021 ◽  
Vol 11 (4) ◽  
pp. 262-268
Author(s):  
Aristide Maniriho ◽  
Edouard Musabanganji ◽  
Philippe Lebailly
Keyword(s):  
Land Tenure ◽  
Agricultural Development ◽  
Farm Income ◽  
Small Scale ◽  
Extension Services ◽  
Farm Production ◽  
Small Scale Farmers ◽  
Land Size ◽  
On Farm

This study attempted to examine the role of institutions in boosting rural and agricultural development in the region of the Volcanic Highlands of Rwanda. Both qualitative and quantitative data were collected from a random sample of 401 small-scale farmers through a questionnaire. Data were analyzed using a weighted least-squares method to account for heteroscedasticity, a common issue in cross-sectional studies. Results from crop output function reveal a positive and significant effect of cooperative membership, a negative but significant effect of extension services, and a negative non-significant effect of land tenure, credit access, and market access on farm production, respectively. In terms of net farm income function, the results demonstrate that farmer cooperation, land tenure, extension services, and access to output markets have a positive, non-significant influence, but that access to finance has a negative non-significant effect. Results also point to a positive and significant effect of some household characteristics, namely family size, farming experience, land size, and farm yield, on farm production. As for net farm income, education of the head, family size, farm experience, land size, farm yield, selling price, and cattle proved to be among primary determinants. It was therefore suggested that agricultural sector programs and activities should be readapted and strengthened in order to leverage rural and agricultural development in Rwanda.

scholarly journals Assessment and Selection of Technologies for the Sustainable Development of an R&D Center

2020 ◽  
Vol 12 (23) ◽  
pp. 10087
Author(s):  
Rafael Lizarralde ◽  
Jaione Ganzarain ◽  
Mikel Zubizarreta
Keyword(s):  
Decision Making ◽  
New Technologies ◽  
Selection Process ◽  
Multiple Criteria Decision Making ◽  
Industrial Applications ◽  
The Sustainable Development ◽  
Industrial Enterprises ◽  
Decision Making Model ◽  
Selection Of

The central role of R&D centers in the advancement of technology within industrial enterprises is undeniable and clearly affects their strategies, their competitiveness and their business sustainability. R&D centers assume responsibility for technology recognition, collection, acquisition, development and transition. Among their activities, the efficient choice of emerging technologies in the Technology Management Process is becoming a real challenge. In such heterogeneous scenarios, Multiple Criteria Decision Making (MCDM) models are commonly proposed as an appropriate decision-making approach. Multiple research works address the selection of particular technologies in industrial applications, but very few references can be found related to research institutions, and R&D centers in particular. Therefore, a decision-making model is provided in this study following the MIVES multi criteria method for the assessment of one or more technologies. The model is then applied to two case studies related to the selection process of new technologies at a Spanish R&D Center specialized in manufacturing.

scholarly journals Decision-Making, Financial Risk Aversion and Behavioral Biases: The Role of Testosterone and Stress

2017 ◽  
Author(s):  
John R. Nofsinger ◽  
Fernando Patterson ◽  
Corey A. Shank ◽  
Robert T. Daigler
Keyword(s):  
Decision Making ◽  
Risk Aversion ◽  
Financial Risk ◽  
Behavioral Biases

scholarly journals The Role of Small Scale Experiments in the Direct Detection of Dark Matter

Universe ◽  
2021 ◽  
Vol 7 (4) ◽  
pp. 81
Author(s):  
Susana Cebrián
Keyword(s):  
Dark Matter ◽  
New Technologies ◽  
Direct Detection ◽  
Detection Methods ◽  
Small Scale ◽  
Detection Systems ◽  
Relevant Role ◽  
Low Mass ◽  
Complex Detection

In the direct detection of the galactic dark matter, experiments using cryogenic solid-state detectors or noble liquids play for years a very relevant role, with increasing target mass and more and more complex detection systems. But smaller projects, based on very sensitive, advanced detectors following new technologies, could help in the exploration of the different proposed dark matter scenarios too. There are experiments focused on the observation of distinctive signatures of dark matter, like an annual modulation of the interaction rates or the directionality of the signal; other ones are intended to specifically investigate low mass dark matter candidates or particular interactions. For this kind of dark matter experiments at small scale, the physics case will be discussed and selected projects will be described, summarizing the basics of their detection methods and presenting their present status, recent results and prospects.

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