The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory

Detalhes bibliográficos
Autor(a) principal: Coelho, Luís
Data de Publicação: 2012
Outros Autores: Pires, Cesaltina, Dionísio, Andreia, Serrão, Amílcar
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10174/6250
https://doi.org/10.1016/j.jpolmod.2011.03.009
Resumo: This paper proposes a modeling approach to evaluate the impact of economic policies on the decision maker’s behavior. This modeling approach incorporates the agent’s preferences, estimated through utility elicitation methods, into the objective function of a discrete sequential stochastic programming model that describes the uncertainties and the constraints faced by the decision maker. Our approach was applied to nine farmers of Portugal. The elicitation of the farmers’ preferences reveals that the Cumulative Prospect Theory is relevant to describe the farmers’ behavior under risk. Our programming model was used to evaluate the impact of the Common Agricultural Policy with partial and full decoupling of subsidies
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spelling The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect TheoryCumulative Prospect TheoryCommon Agricultural PolicyDiscrete sequential stochastic programmingUtility TheoryThis paper proposes a modeling approach to evaluate the impact of economic policies on the decision maker’s behavior. This modeling approach incorporates the agent’s preferences, estimated through utility elicitation methods, into the objective function of a discrete sequential stochastic programming model that describes the uncertainties and the constraints faced by the decision maker. Our approach was applied to nine farmers of Portugal. The elicitation of the farmers’ preferences reveals that the Cumulative Prospect Theory is relevant to describe the farmers’ behavior under risk. Our programming model was used to evaluate the impact of the Common Agricultural Policy with partial and full decoupling of subsidiesElsevier2012-12-03T17:12:58Z2012-12-032012-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/6250http://hdl.handle.net/10174/6250https://doi.org/10.1016/j.jpolmod.2011.03.009engDepartamento de Gestãolcoelho@uevora.ptcpires@uevora.ptandreia@uevora.ptaserrao@uevora.pt256Coelho, LuísPires, CesaltinaDionísio, AndreiaSerrão, Amílcarinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T18:45:15Zoai:dspace.uevora.pt:10174/6250Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:00:56.225586Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory
title The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory
spellingShingle The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory
Coelho, Luís
Cumulative Prospect Theory
Common Agricultural Policy
Discrete sequential stochastic programming
Utility Theory
title_short The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory
title_full The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory
title_fullStr The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory
title_full_unstemmed The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory
title_sort The impact of CAP policy in farmer’s behavior – A modeling approach using the Cumulative Prospect Theory
author Coelho, Luís
author_facet Coelho, Luís
Pires, Cesaltina
Dionísio, Andreia
Serrão, Amílcar
author_role author
author2 Pires, Cesaltina
Dionísio, Andreia
Serrão, Amílcar
author2_role author
author
author
dc.contributor.author.fl_str_mv Coelho, Luís
Pires, Cesaltina
Dionísio, Andreia
Serrão, Amílcar
dc.subject.por.fl_str_mv Cumulative Prospect Theory
Common Agricultural Policy
Discrete sequential stochastic programming
Utility Theory
topic Cumulative Prospect Theory
Common Agricultural Policy
Discrete sequential stochastic programming
Utility Theory
description This paper proposes a modeling approach to evaluate the impact of economic policies on the decision maker’s behavior. This modeling approach incorporates the agent’s preferences, estimated through utility elicitation methods, into the objective function of a discrete sequential stochastic programming model that describes the uncertainties and the constraints faced by the decision maker. Our approach was applied to nine farmers of Portugal. The elicitation of the farmers’ preferences reveals that the Cumulative Prospect Theory is relevant to describe the farmers’ behavior under risk. Our programming model was used to evaluate the impact of the Common Agricultural Policy with partial and full decoupling of subsidies
publishDate 2012
dc.date.none.fl_str_mv 2012-12-03T17:12:58Z
2012-12-03
2012-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10174/6250
http://hdl.handle.net/10174/6250
https://doi.org/10.1016/j.jpolmod.2011.03.009
url http://hdl.handle.net/10174/6250
https://doi.org/10.1016/j.jpolmod.2011.03.009
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Departamento de Gestão
lcoelho@uevora.pt
cpires@uevora.pt
andreia@uevora.pt
aserrao@uevora.pt
256
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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