Decomposing Input Adjustments under Price and Production Uncertainty
A decomposition of input adjustments for stochastic technologies is developed and applied to the case of actuarially fair production insurance. The decomposition consists of a pure-risk effect and an expansion effect which are analogous to the Hicks-Allen decomposition familiar from consumer theory. Copyright 2001, Oxford University Press.
Volume (Year): 83 (2001)
Issue (Month): 1 ()
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