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Estimation Of Moments And Production Decisions Under Uncertainty

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Author Info
Elie Appelbaum
Aman Ullah

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Abstract

The purpose of this paper is to examine production decisions under output price uncertainty. Using a nonparametric estimation technique to estimate the first four moments of the unknown price distribution and applying duality, we provide a simple empirical framework for the analysis of supply and demand decisions under price uncertainty. The model is used to examine the importance of higher moments in the firm's production decisions and to investigate underlying attitudes toward risk. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technolog

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Publisher Info
Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 79 (1997)
Issue (Month): 4 (November)
Pages: 631-637
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Handle: RePEc:tpr:restat:v:79:y:1997:i:4:p:631-637

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Web page: http://mitpress.mit.edu/journals/

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  1. Cherchye, L. & Post, G.T., 2001. "Methodological Advances in Dea," Research Paper ERS-2001-53-F&A Revision_, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
  2. Zhao, Jinhua, 2004. "RURAL LABOR MIGRATION: Migrant Network, Information, and Hysteresis," 2004 Annual meeting, August 1-4, Denver, CO 19990, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  3. Laurens Cherchye & Tom Van Puyenbroeck, 2002. "Profit Efficiency Analysis Under Limited Information. With an Application to German Farm Types," Public Economics Working Paper Series ces0202, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Working Group Public Economics. [Downloadable!]
    Other versions:
  4. Hilmer, Christiana E. & Holt, Matthew T., 2000. "A Comparison Of Resampling Techniques When Parameters Are On A Boundary: The Bootstrap, Subsample Bootstrap, And Subsample Jackknife," 2000 Annual meeting, July 30-August 2, Tampa, FL 21810, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  5. Abdullahi O. Abdulkadri & Michael R. Langemeier & Allen M. Featherstone, 2006. "Estimating economies of scope and scale under price risk and risk aversion," Applied Economics, Taylor and Francis Journals, vol. 38(2), pages 191-201, February. [Downloadable!] (restricted)
  6. Moawia Alghalith, 2005. "Estimation with price and output uncertainty," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 247-257, November. [Downloadable!]
  7. Sckokai, Paolo & Moro, Daniele, 2002. "Modelling The Cap Arable Crop Regime Under Uncertainty," 2002 Annual meeting, July 28-31, Long Beach, CA 19860, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  8. Mark Coppejans & Donna Gilleskie & Holger Sieg & Koleman Strumpf, 2006. "Consumer Demand under Price Uncertainty: Empirical Evidence from the Market for Cigarettes," NBER Working Papers 12156, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  9. Elie Appelbaum & Alan D. Woodland, 2008. "The Effects of Foreign Price Uncertainty on Australian Production and Trade," Working Papers 2008_03, York University, Department of Economics. [Downloadable!]
  10. Moawia Alghalith, 2006. "Price and output risk: empirical analysis," Applied Economics Letters, Taylor and Francis Journals, vol. 13(6), pages 391-393, May. [Downloadable!] (restricted)
  11. Alghalith Moawia, 2005. "Hedging under price and output uncertainty: estimation methodology," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 1(5), pages 309-312, September. [Downloadable!] (restricted)
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