2007
DOI: 10.5424/sjar/2007051-219
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Elicitation of subjective crop yield PDF [probability density functions]

Abstract: The aim of this research is to investigate the coherence and reliability of subjective crop yield probability density functions (PDF) elicited from a series of interviews carried out on a wide group of farmers. Three different elicitation techniques were used: the Two-Step PDF estimation method, the Triangular distribution and the Beta distribution. Subjects who were interviewed gave both estimates for point crop yield (mean, highest possible, most frequent and lowest possible) and for the PDF based on interva… Show more

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Cited by 10 publications
(6 citation statements)
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“…In general, this literature shows that mean yields that are subjectively elicited tend to coincide with the objective measures, but higher moments from the subjective temporal yield distribution (including temporal yield variability) tend not to be as accurate. Subjectively elicited or perceived temporal yield variability tends to be lower than objective estimates (Clop-Gallart and Juarez-Rubio, 2007;Egelkraut et al, 2006aEgelkraut et al, , 2006bPease, 1992), which implies an underestimation of temporal variability. This underestimation is consistent with what the behavioral finance literature calls "overconfidence" (see Smith and Mandac, 1995;Tversky and Kahneman, 1974).…”
Section: )mentioning
confidence: 97%
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“…In general, this literature shows that mean yields that are subjectively elicited tend to coincide with the objective measures, but higher moments from the subjective temporal yield distribution (including temporal yield variability) tend not to be as accurate. Subjectively elicited or perceived temporal yield variability tends to be lower than objective estimates (Clop-Gallart and Juarez-Rubio, 2007;Egelkraut et al, 2006aEgelkraut et al, , 2006bPease, 1992), which implies an underestimation of temporal variability. This underestimation is consistent with what the behavioral finance literature calls "overconfidence" (see Smith and Mandac, 1995;Tversky and Kahneman, 1974).…”
Section: )mentioning
confidence: 97%
“…A number of studies have investigated farmers' perceived temporal yield distributions (and temporal yield variability) (e.g., Bessler, 1980;Clop-Gallart and Juarez-Rubio, 2007;Egelkraut et al, 2006aEgelkraut et al, , 2006bGrissley and Kellogg, 1983;Pease, 1992;Smith and Mandac, 1995). Most of these studies, however, focus primarily on comparing a subjectively elicited temporal yield distribution with an objectively measured historical/temporal yield distribution (i.e., from county yields, historical individual yields from farm records, etc.).…”
Section: )mentioning
confidence: 99%
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“…There is limited published research on farmers' perceived expectations of temporal yield variability (e.g., [6]). Rejesus et al [7] studied the spatial dimensions of yield variability and subjective perceptions.…”
Section: Water Use Decision-making By Irrigatorsmentioning
confidence: 99%
“…Attempts to elicit and incorporate farmers' subjective beliefs into models and analysis are fairly rare. Exceptions include studies that measure beliefs about yield loss due to crop disease or adverse weather (Carlson, 1970;Pingali and Carlson, 1985;Menapace et al, 2013), subjective yield, price and income expectations (Grisley and Kellogg, 1983;Clop-Gallart and Juárez-Rubio, 2007), subjective beliefs about optimal nitrogen applications (SriRamaratnam et al, 1987), and beliefs about weather impacts (Sherrick et al, 2000;Sherrick, 2002). These studies have relied on indirect methods of probability elicitation or fractile approaches, an exception being (Sherrick et al, 2000;Sherrick, 2002) which uses both a fractile and inverse CDF approach.…”
Section: Introductionmentioning
confidence: 99%