Uncertainty-the prediction of the future and the making of decisions with imperfect knowledge -is one of the more complex problems facing Iowa farm operators. A relatively small amount of research has been devoted to this particular problem area. Two types of investigations are needed: (1) those showing how the economic structure can be changed to allow less extreme and' abrupt change and less uncertainty and (2) those demonstrating methods of improved prediction and decision-making under uncertainty, since not all change and uncertainty can or should be removed.
Darcovich, William and Heady, Earl O.
"Application of expectation models to livestock and crop prices and products,"
Research Bulletin (Iowa Agriculture and Home Economics Experiment Station): Vol. 32
, Article 1.
Available at: https://lib.dr.iastate.edu/researchbulletin/vol32/iss438/1