Abstract:
The management of decision-making under risk and uncertainty has been relatively recently shaped through the efforts of the specialists in the fields of insurance and finance. Agriculture needs a particular approach not only because of the natural specificity of each area, but also due to the various ways of implementing it. Many times the practical solutions were found much before their scientific substantiation to be provided because of the unicity and of the low level of generalization enjoyed by a particular decision-making instance. This managerial approach is more and more needed under the current circumstances when national administration, foreign governments and other external factors play a decisive role in defining both the present and future agricultural context. Agriculture cannot survive in the absence of a well substantiated theory for both medium and long term. These instruments help to the improvement and adjustment of the economic, political, and social environment to the sustainable development of Romanian agriculture