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What is Risk-Averse

Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa
Refusal to take risks, to engage in innovation.
Published in Chapter:
Technological Innovations in Agriculture in Sub-Saharan Africa
Amadou Tandjigora (Cheikh Anta Diop University, Senegal)
DOI: 10.4018/978-1-7998-4817-2.ch016
Abstract
The purpose of this chapter is to review the literature on technological innovations in general and more specifically on the use of information and communication technologies in agriculture. Emphasis was placed on two main tools, namely the telephone and the internet. The opportunities created by these two tools have been highlighted on the basis of previous studies supported by scientific arguments. Some stylized facts have also made it possible to highlight the level of these ICTs in 20 countries of sub-Saharan Africa. Some countries like Kenya, Nigeria, South Africa, and Rwanda, and, to a lesser extent, Senegal are more advanced in this process of using ICT because they are relatively more economically stable. Finally, the constraints linked to the adoption of these ICTs as well as certain public policy recommendations were formulated.
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Utility Functions and Risk Attitudes in Decision Analysis
Describes the risk attitude of a person who prefers to take the amount of money over a gamble with the same expected dollar amount, or equivalently, the utility function of the individual is concave.
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