Application of expectation models to livestock and crop prices and products

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2017-06-13
Authors
Darcovich, William
Heady, Earl
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Altmetrics
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Extension and Experiment Station Publications
Abstract

Uncertainty-the prediction of the future and the making of decisions with imperfect knowledge -is one of the more complex problems facing Iowa farm operators. A relatively small amount of research has been devoted to this particular problem area. Two types of investigations are needed: (1) those showing how the economic structure can be changed to allow less extreme and' abrupt change and less uncertainty and (2) those demonstrating methods of improved prediction and decision-making under uncertainty, since not all change and uncertainty can or should be removed.

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