Decision Making Under Uncertainty – Dr. Allan Gray

managing-risk

At the Syngenta G32 Summit I had the opportunity to interview Dr. Allan Gray from Purdue University.  With the increased volatility in the marketplace producers must be much more aware and conscious of the risk dynamics.  I have always found that risk is a very difficult topic to discuss because everyone has a different risk profile.  What seems risky to me may not be risky to you.  Risk also has a very high correlation to business reward.  How many times have you heard, “no risk no reward.”  The other side of that statement is the grim reality of not understanding the amount of risk to achieve those rewards.  One only has to think back so far to remember the banks and their apparent “risk less” credit default swaps and sub prime mortgages.

Dr. Allan Gray discussed with me how producers are currently perceiving risk and how they can try and mange it to their advantage.

If you cannot see the video below, click here

 

Shaun Haney

Shaun Haney is the founder of RealAgriculture.com. He creates content regularly and hosts RealAg Radio on Rural Radio 147 every weekday at 4PM est. @shaunhaney

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