Abstract
Risk and uncertainty are crucial features of agricultural production. The particular concern of agricultural economists with risk may be explained in part by the dependence of agricultural production on the natural environment, taken broadly to include climate as well as soil conditions, beneficial and harmful animal populations and so on. Conversely, the activities of agricultural producers have a substantial impact on the natural environment and this impact is subject to both risk and uncertainty.
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Quiggin, J., Chambers, R.G. (2003). The State-contingent Approach to Modeling Environmental Risk Management. In: Babcock, B.A., Fraser, R.W., Lekakis, J.N. (eds) Risk Management and the Environment: Agriculture in Perspective. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-2915-4_2
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DOI: https://doi.org/10.1007/978-94-017-2915-4_2
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