Reports on Risk Management Findings from Pandit Deendayal Energy University Provide New Insights (Using the Ordered Weighted Average Operator to Gauge Variation in Agriculture Commodities in India): Risk Management

2023 NOV 02 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Current study results on risk management have been published. According to news reporting out of Gujarat, India, by NewsRx editors, research stated, “Agricultural product prices are subject to various uncertainties, including unpredictable weather conditions, pest infestations, and market fluctuations, which can significantly impact agricultural yields and productivity.”

Funders for this research include Ucsc 2023.

Our news journalists obtained a quote from the research from Pandit Deendayal Energy University: “Accurately assessing and understanding price is crucial for farmers, policymakers, and stakeholders in the agricultural sector to make informed decisions and implement appropriate risk management strategies. This study used the ordered weighted average (OWA) operator and its extensions as mathematical aggregation techniques incorporating ordered weights to capture and evaluate the factors influencing price variation.”

According to the news reporters, the research concluded: “By generating different vectors related to different inputs to the traditional formulation, it is possible to aggregate information to calculate and provide a new view of the outcomes. The results of this research can help enhance risk management practices in agriculture and support decision-making processes to mitigate the adverse effects of price.”

For more information on this research see: Using the Ordered Weighted Average Operator to Gauge Variation in Agriculture Commodities in India. Axioms, 2023,12(10). (Axioms - http://www.mdpi.com/journal/axioms). The publisher for Axioms is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/axioms12100985.

Our news editors report that additional information may be obtained by contacting Sandeep Wankhade, Department of Mathematics, Pandit Deendayal Energy University, Gandhinagar 382426, Gujarat, India. Additional authors for this research include Manoj Sahni, Cristhian Mellado-Cid, Ernesto Leon-Castro.

ORCID is an identifier for authors and includes bibliographic information. The following is ORCID information for the authors of this research: Sandeep Wankhade (http://orcid.org/0000-0002-6993-5889), Manoj Sahni (http://orcid.org/0000-0001-7949-9147), Ernesto Leon-Castro (http://orcid.org/0000-0002-0087-2226).

(Our reports deliver fact-based news of research and discoveries from around the world.)