A method for valuing information when risk attitudes are nonneutral is presented. The procedure uses simulation and generalized stochastic dominance to value information by level of risk aversion. The value of soil water and weather information to irrigators is quantified to illustrate the procedure.

Author names: 
Bosch, D. J.
Eidman, V. R.
Year: 
1987
Publisher: 
American Journal of Agricultural Economics
Reference: 

Bosch, D. J. & Eidman, V. R. (1987). Valuing information when risk preferences are non-neutral: an application to irrigation scheduling. Am. J. Agric. Econ., 69: 658−666.

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