GOALS ANO OBJECTIVES OF FARMERS: THEORY, MEASUREMENT ANO EMPIRICAL RESULTS
Although neoclassical economic theory assumes that producers seek to maximize profit, real world decision-making involves consideration of multiple goals. Three ways of incorporating multiple goals into modais of the farm firin are briefly discussed. Thé "ranked goal", "substitution" and "satinicing" multiple goal models are contrasted in terrns of the decision-making process assumed and the type of empwical information required from goal measurement. Measurement techniques, developed primarily by psychologists, which can be used to measure farmers' goals are discussed. They are traditional pairad compar, isons, magnitude estimation, multidimensional scaling- and ~onjoint analysis. Thllr discussion stresses the demands that these techniques made on the respondent. ancf properties of the information derived in relation to the needs of mültiple goal models. Results of an empiricàl study of farmers' goals are briefly n,poned. Emphasia is given to the procedure used, difficultíes encountered and an 0'4!9rview of The paper concludes with some comparisons of .the methods~ difficultíes in ditflít• ing and measuring goals and some suggestions for further work.. lt it SU991$18d that application of these methods to economic poUcy may be a l1lOl'9'fertile fiefcf, than farmers' goals.
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