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© 1998 Oxford University Press and the Foundation for the European Review of Agricultural Economics

research-article

A non-interactive methodology to assess farmers' utility functions: An application to large farms in Andalusia, Spain

FRANCISCO AMADOR, JOSE MARIA SUMPSI and CARLOS ROMERO

Business School, ETEA Cdrdoba, Spain
Technical University of Madrid, Spain
ETS Ingenieros de Montes, Unidad de Economia, Avenida Complutense s/n 28040 Madrid, Spain

Received September 1, 1997;

Summary

This paper proposes a methodological approach for eliciting farmers' utility functions. The methodology is non-interactive, in that the parameters defining the utility function are obtained by observing the actual behaviour adopted by farmers without resorting to the use of questions on random lotteries. The methodology recognises that the farmer attempts to achieve several objectives, most of which are in conflict. The methodological approach is applied to a large farmer in the county of Vega de Cdrdoba, Spain. The primary empirical finding of this research was a satisfactory explanation of farmers' behaviour through a multi-attribute utility function with three attributes: working capital, risk and level of relative profitability

Keywords: farmers' goals, utility function, multi-criteria analysis, goal programming


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