Pannell Discussions

Diversification is one of the most effective and widely used ways to reduce risk. There are many opportunities to diversify in agriculture. Diversification means doing

This Pannell Discussions is about risk aversion and its influence on strategic decisions about the optimal rate of a fertiliser to apply, particularly nitrogen fertiliser.

The question of whether to use Benefit: Cost Ratio or Net Present Value or Internal Rate of Return is “a world of confusion,” because textbooks

My interest in risk in this series of posts is in how it affects decision making. There are two broad types of decisions that we

Risk perceptions and risk preferences are different. Risk perceptions (covered in PD408) are about how risky someone thinks a particular strategy is. Risk preferences are

Some risks can be measured fairly objectively, while for others there is little objective evidence to go on. Either way, what drives farmers’ decisions is