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Borrowing Behavior Of The Proprietary Firm: Do Some Risk-Averse Expected Utility Maximizers Plunge?

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Author Info
Collins, Robert A.
Gbur, Edward E.
Abstract

When a proprietor's liability is limited, borrowing behavior for an expected utility maximizer may vary widely. Proprietors with little to lose may rationally choose very large debt levels while others may choose to finance with 100% equity. This article presents a theory to explain these widely observed variations in behavior.

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File URL: http://purl.umn.edu/32606
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Publisher Info
Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

Volume (Year): 16 (1991)
Issue (Month): 02 (December)
Pages:
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Handle: RePEc:ags:wjagec:32606

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Web page: http://waeaonline.org/
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Related research
Keywords: Financial Economics;

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This page was last updated on 2009-12-11.

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