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Author |
Angelova, D. |
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Title |
The state-contingent approach to production and choice under uncertainty: usefulness as a basis for economic modeling |
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Report |
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Year |
2014 |
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FACCE MACSUR Reports |
Abbreviated Journal |
FACCE MACSUR Rep. |
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3 |
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Pages |
Sp3-8 |
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Abstract  |
The state-contingent approach developed by Chambers and Quiggin (2000) constitutes an attractive blend of a theory of production analysis under uncertainty and a theory of decision-making under uncertainty.One of the goals of this contribution is to introduce the reader to the approach by outlining its contents while comparing and contrasting it to related theories. With respect to production analysis: an emphasis is made on the ability of the approach to deliver well defined cost functions corresponding to stochastic production technologies. With respect to decision-making under uncertainty: the comparison with other theories consistent with a rational agent emphasizes the production theoretical basis of the state-contingent approach.It is the author’s belief that appropriately categorizing the state-contingent approach serves the primary goal of this work: to explore its usefulness as a basis for economic modeling. Some challenges regarding an empirical implementation are discussed: challenges in estimating the parameters of a state-contingent technology representation in general, as well as challenges arising from the fact that the approach is constructed around the argument pioneered by Leonard J Savage: that probabilities underlying economic decision-making are inherently subjective.(The financial support of ScienceCampus Halle is gratefully acknowledged.) No Label |
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FACCE MACSUR Reports |
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3 |
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MA @ admin @ |
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2225 |
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Author |
Angelova, D. |
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Title |
The state-contingent approach to production and choice under uncertainty: usefulness as a basis for economic modeling |
Type |
Conference Article |
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Year |
2014 |
Publication |
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Abbreviated Journal |
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Keywords |
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Abstract |
The state-contingent approach developed by Chambers and Quiggin (2000) constitutes an attractive blend of a theory of production analysis under uncertainty and a theory of decision-making under uncertainty. One of the goals of this contribution is to introduce the reader to the approach by outlining its contents while comparing and contrasting it to related theories. With respect to production analysis: an emphasis is made on the ability of the approach to deliver well defined cost functions corresponding to stochastic production technologies. With respect to decision-making under uncertainty: the comparison with other theories consistent with a rational agent emphasizes the production theoretical basis of the state-contingent approach. It is the author’s belief that appropriately categorizing the state-contingent approach serves the primary goal of this work: to explore its usefulness as a basis for economic modeling. Some challenges regarding an empirical implementation are discussed: challenges in estimating the parameters of a state-contingent technology representation in general, as well as challenges arising from the fact that the approach is constructed around the argument pioneered by Leonard J Savage: that probabilities underlying economic decision-making are inherently subjective.(The financial support of ScienceCampus Halle is gratefully acknowledged.) |
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FACCE MACSUR Mid-term Scientific Conference |
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3(S) Sassari, Italy |
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FACCE MACSUR Mid-term Scientific Conference, 2014-04-01 to 2014-04-04, Sassari, Italy |
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MA @ admin @ |
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5134 |
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Author |
Holman, I. |
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Title |
Identifying where future landuse allocation in Europe is robust to climate and socio-economic uncertainty |
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2015 |
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FACCE MACSUR Reports |
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5 |
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Sp5-23 |
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The spatial distribution of future European landuse will be influenced by yield changes arising from climate change and changes in profitability as a consequence of socio-economic change (arising from changing food demand; prices; technology etc). To understand how these factors affect future land use allocation, a modelling system has been set up to predict agricultural land use across the EU under any scenario set of climate and socio- and techno-economic data. Metamodels of crop and forest yields, and optimal cropping and profit are derived from the outputs of the IMPEL, GOTILWA+, SFARMODand WaterGAP models. Profitability of each possible land use is modelled across the EU, assuming that use will change to the most profitable in the timescale being considered (2050). Land use in a grid is then allocated based on profit, with minimum profit thresholds set for intensive agriculture (arable or grassland), extensive agriculture, managed forest and finally unmanaged forest or unmanaged land. The European demand for food as a function of population, imports, food preferences and bioenergy, is a production constraint, as is irrigation water available. The model iterates prices until demand is satisfied (or cannot be met) and basin water usage for irrigation is not more than is available.This presentation describes the application of the modelling system across future climate change uncertainty space (as given by 60 combinations of downscaled 10’x10’ gridded climate outputs from 5 Global Climate Models, 3 climate sensitivities and 4 emissions scenario) under both baseline and four future socio-economic scenarios to identify those areas of Europe in which the spatial allocation of agricultural landcovers are robust to this uncertainty. No Label |
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MACSUR Science Conference 2015 »Integrated Climate Risk Assessment in Agriculture & Food«, 8–9+10 April 2015, Reading, UK |
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MA @ admin @ |
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2138 |
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Author |
Bojar, W.; Żarski, J.; Knopik, L.; Kuśmierek-Tomaszewska, R.; Sikora, M.; Dzieża, G. |
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Title |
Markov chain as a model of daily total precipitation and a prediction of future natural events |
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Conference Article |
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2015 |
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ft_macsur; MACSUR or FACCE acknowledged. |
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The size of arable crop yields depends on many weather factors, such as precipitation and air temperature during the vegetation period. When studying the relation between yields and precipitation, not only the total amount of precipitation, but also the occurrence of long periods without precipitation must be taken into account. The paper [Bojar et al., 2014] demonstrated that barley yield significantly statistically depends on the length of the series of days without precipitation. This paper attempts to analyse the statistical data on daily precipitation totals recorded during the January – December periods in the years 1971 – 2013 at the weather station of the University of Science and Technology in Bydgoszcz, Faculty of Agriculture and Biotechnology, in the Research Centre located in an agricultural area in the Mochle township, situated 17 kilometres from Bydgoszcz. The primary statistical operation in the study is an attempt to estimate the Markov chain order. To this end, two criteria of chain order determination are applied: BIC (Bayesian information criterion, Schwarz 1978) and AIC (Akaike information criterion, Akaike 1974). Both are based on the log-likelihood functions for transition probability of the Markov chain constructed on certain data series. Statistical analysis of precipitation totals data leads to the conclusion that both AIC and BIC indicate the 2nd order for the studied Markov chain. The proposed method of estimating the variability of precipitation occurrence in the future will be utilised to improve region-related bio-physical and economical models, and to assess the risk of extreme events in the context of growing climate hazards. It will serve as basis for a search in agriculture for solutions mitigating those hazards. |
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Braunschweig (Germany) |
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FACCE MACSUR Joint Workshops October 2015, 2015-10-27 to 2015-10-30, Braunschweig |
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MA @ admin @ |
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4236 |
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Author |
Bojar, W.; Żarski, J.; Knopik, L.; Kuśmierek-Tomaszewska, R.; Sikora, M.; Dzieża, G. |
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Title |
Markov chain as a model of daily total precipitation and a prediction of future natural events |
Type |
Conference Article |
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Year |
2015 |
Publication |
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Abbreviated Journal |
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Volume |
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Issue |
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Pages |
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Keywords |
ft_macsur; MACSUR or FACCE acknowledged. |
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Abstract |
The size of arable crop yields depends on many weather factors, such as precipitation and air temperature during the vegetation period. When studying the relation between yields and precipitation, not only the total amount of precipitation, but also the occurrence of long periods without precipitation must be taken into account. The paper [Bojar et al., 2014] demonstrated that barley yield significantly statistically depends on the length of the series of days without precipitation. This paper attempts to analyse the statistical data on daily precipitation totals recorded during the January – December periods in the years 1971 – 2013 at the weather station of the University of Science and Technology in Bydgoszcz, Faculty of Agriculture and Biotechnology, in the Research Centre located in an agricultural area in the Mochle township, situated 17 kilometres from Bydgoszcz. The primary statistical operation in the study is an attempt to estimate the Markov chain order. To this end, two criteria of chain order determination are applied: BIC (Bayesian information criterion, Schwarz 1978) and AIC (Akaike information criterion, Akaike 1974). Both are based on the log-likelihood functions for transition probability of the Markov chain constructed on certain data series. Statistical analysis of precipitation totals data leads to the conclusion that both AIC and BIC indicate the 2nd order for the studied Markov chain. The proposed method of estimating the variability of precipitation occurrence in the future will be utilised to improve region-related bio-physical and economical models, and to assess the risk of extreme events in the context of growing climate hazards. It will serve as basis for a search in agriculture for solutions mitigating those hazards. |
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Corporate Author |
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Thesis |
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Place of Publication |
Braunschweig (Germany) |
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Conference |
FACCE MACSUR Joint Workshops October 2015, 2015-10-27 to 2015-10-30, Braunschweig |
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Notes |
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Call Number |
MA @ admin @ |
Serial |
4395 |
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