The paper develops and illustrates the application of criteria for ranking risky investment alternatives that are based on their certainly equivalent (ce) outcomes and determines expressions for approximating the ce outcomes by means of the central moments of their distribution. The paper develops criteria on the basis of the ce outcomes for determining a complete ranking of risky investment alternatives that can represent the choice of many - though not all - risk-averse agents.
|Number of pages||9|
|Journal||Agricultural Economics (United Kingdom)|
|State||Published - 1 Jan 1995|
ASJC Scopus subject areas
- Agronomy and Crop Science
- Economics and Econometrics