{"id":2139,"date":"2017-01-05T11:37:29","date_gmt":"2017-01-05T10:37:29","guid":{"rendered":"http:\/\/www.supagro.fr\/wordpress\/modeleco\/?page_id=2139"},"modified":"2019-06-27T14:34:00","modified_gmt":"2019-06-27T12:34:00","slug":"lecon-25-maximiser-une-fonction-d-utilite","status":"publish","type":"page","link":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/auto-formation\/sequence3\/cours-1-lagriculture-une-activite-risquee\/lecon-25-maximiser-une-fonction-d-utilite\/","title":{"rendered":"Lesson 26 : Maximizing a utility function"},"content":{"rendered":"<p><em>This lesson must be completed in three steps : 1) watch the video-lecture, 2) try to do the exercise on your own, 3) watch the detailed answer.<\/em><\/p>\n<table>\n<colgroup>\n<col span=\"2\" width=\"80\" \/> <\/colgroup>\n<tbody>\n<tr>\n<td style=\"text-align: center\" colspan=\"2\"><strong>1) Theory and numeric example<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"120\">\n<h6>\u00a0<em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/em> <a href=\"http:\/\/www.supagro.fr\/ModelEco\/en\/video\/L26_video1.mp4\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"http:\/\/www.supagro.fr\/wordpress\/modeleco\/files\/2016\/05\/video.png\" alt=\"video\" width=\"59\" height=\"67\" \/><\/a><em>(3 min)<\/em><\/h6>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center\" colspan=\"2\"><strong>2) Modify the model in GAMS on your own<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>open GAMS<\/li>\n<li>run the model <a href=\"http:\/\/www.supagro.fr\/ModelEco\/en\/modeles\/modelEco_primal0_risk_base.zip\">primal0_risk_base.gms<\/a><\/li>\n<li>modify the model on your own by introducing a utility function as follows U(Y)=[1\/(1-r)].Z1-r with a 0,1 and then 0,3 risk aversion coefficient<\/li>\n<li>you may also calculate the average income<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center\" colspan=\"2\"><strong>3) Watch the detailed answer<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"120\">\n<h6><\/h6>\n<h6><em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/em> <a href=\"http:\/\/www.supagro.fr\/ModelEco\/en\/video\/L26_video2.mp4\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"http:\/\/www.supagro.fr\/wordpress\/modeleco\/files\/2016\/05\/video.png\" alt=\"video\" width=\"59\" height=\"67\" \/><\/a><em>(4 min)<\/em><\/h6>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><a href=\"http:\/\/www.supagro.fr\/wordpress\/modelecoen\/auto-formation\/sequence3\/cours-1-lagriculture-une-activite-risquee\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4121 alignright\" src=\"http:\/\/www.supagro.fr\/wordpress\/modelecoen\/files\/2018\/11\/backUnit.png\" alt=\"\" width=\"211\" height=\"66\" \/><\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This lesson must be completed in three steps : 1) watch the video-lecture, 2) try to do the exercise on your own, 3) watch the detailed answer. 1) Theory and numeric example \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3 min) 2) Modify the model in <a class=\"more-link\" href=\"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/auto-formation\/sequence3\/cours-1-lagriculture-une-activite-risquee\/lecon-25-maximiser-une-fonction-d-utilite\/\">Continue reading <span class=\"screen-reader-text\">  Lesson 26 : Maximizing a utility function<\/span><span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":92,"featured_media":0,"parent":705,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-2139","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/pages\/2139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/comments?post=2139"}],"version-history":[{"count":15,"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/pages\/2139\/revisions"}],"predecessor-version":[{"id":4634,"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/pages\/2139\/revisions\/4634"}],"up":[{"embeddable":true,"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/pages\/705"}],"wp:attachment":[{"href":"https:\/\/www.supagro.fr\/wordpress\/modelecoen\/wp-json\/wp\/v2\/media?parent=2139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}