Agricultural Policy Impact on the Stability of Farm Income and Water Use in the North-East of the Syrian Arab Republic
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"Agricultural Policy Impact on the S..." refers background or methods in this paper
...Westlake (2001) provides an analysis to the economics of the strategic crops’ subsector with focus on efficiency and public losses, while the growth potentials of olive oil and citrus subsectors are explored by Malevolti (1999) and Westlake (2000) respectively....
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...Starmer (2000) demonstrates that people may violate the EUT maximisation for two broad reasons: failure of preferences due to the dependence of the utility of outcomes on the particular risky prospects faced by the decision maker and failure of perception i....
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...Starmer (2000) demonstrates that people may violate the EUT maximisation for two broad reasons: failure of preferences due to the dependence of the utility of outcomes on the particular risky prospects faced by the decision maker and failure of perception i.e. to make well-defined preferences....
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...Starmer (2000) demonstrates that people may violate the EUT maximisation for two broad reasons: failure of preferences due to the dependence of the utility of outcomes on the particular risky prospects faced by the decision maker and failure of perception i.e. to make well-defined preferences. Models that modify the outcome weightings departing from a standard utility function have been used to address failure of preferences, while models that modify the probability weighting are developed to address the failure of perception. Kahneman & Tversky (1979) present one of the most important critiques to the EUT when used as a descriptive model of decision-making under uncertainty....
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1,472 citations
1,193 citations
"Agricultural Policy Impact on the S..." refers background in this paper
...Dercon (2002), focusing on conditions of developing countries, distinguishes risk-management tools from riskcoping strategies. Farmers use the former in an attempt to reduce risk ex-ante, so they are incomesmoothing strategies. Examples are diversification of farm activities and income sources achieved by combining activities with low positive correlations, and income skewing achieved by carrying out only low-risk activities even at the cost of lower returns. Risk-coping strategies includes selfinsurance through precautionary savings and informal group-based-risk-sharing to deal with outcomes of income risk in order to smooth consumption. Farmers can insure themselves by building assets in good years to deplete them in bad years, while group-based-risk-sharing can be made among members of formal or informal groups to support each other in case of hardships. World Bank (2005) classifies risk management mechanisms and strategies under two main groups: formal and informal, each in turn includes ex-ante and ex-post strategies....
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...Dercon (2002), focusing on conditions of developing countries, distinguishes risk-management tools from riskcoping strategies....
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...So this classification of risk management strategies go in line with that pursued by Dercon (2002) even though the latter uses somehow different terminology, since prevention and mitigation strategies aim at income smoothing while coping strategies aim at consumption smoothing....
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1,152 citations
"Agricultural Policy Impact on the S..." refers background in this paper
...Rabin (2000) uses the concept of loss aversion, first introduced by Kahneman and Tversky (1979) in their prospect theory, to explain risk aversion over modest stakes....
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...Rabin (2000) extends the critique to the standard EUT by demonstrating that the latter is unable to provide a plausible account of risk aversion over modest stakes, even though it provides a reasonable explanation to risk behaviour regarding relatively large-scale financial risks....
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