Estimation Of Moments And Production Decisions Under Uncertainty
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. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology
Volume (Year): 79 (1997)
Issue (Month): 4 (November)
|Contact details of provider:|| Web page: http://mitpress.mit.edu/journals/|
|Order Information:||Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Paolo Sckokai & Jesús Antón, 2005. "The Degree of Decoupling of Area Payments for Arable Crops in the European Union," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(5), pages 1220-1228.
- Moavia Alghalith, 2003. "Estimation and Econometric Tests Under Simultaneous Price and Output Uncertainty," CRIEFF Discussion Papers 0302, Centre for Research into Industry, Enterprise, Finance and the Firm.
- Xavier Vollenweider & Salvatore Di Falco & Cathal Oï¿½Donoghue, 2011.
"Risk preferences and voluntary agrienvironmental schemes: does risk aversion explain the uptake of the Rural Environment Protection Scheme?,"
GRI Working Papers
48, Grantham Research Institute on Climate Change and the Environment.
- Xavier Vollenweider & Salvatore Di Falco & Cathal O’Donoghue, 2011. "Risk preferences and voluntary agri-environmental schemes: does risk aversion explain the uptake of the Rural Environment Protection Scheme?," LSE Research Online Documents on Economics 37585, London School of Economics and Political Science, LSE Library.
- Vollenweider, Xavier & Di Falco, Salvatore & O'Donoghue, Cathal, 2011. "Risk Preferences and Voluntary Agri-environmental Schemes: Does Risk Aversion Explain the Uptake of the Rural Environment Protection Scheme?," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 115552, European Association of Agricultural Economists.
- Abdullahi Abdulkadri & Michael Langemeier & Allen Featherstone, 2006. "Estimating economies of scope and scale under price risk and risk aversion," Applied Economics, Taylor & Francis Journals, vol. 38(2), pages 191-201.
- Cherchye, Laurens & Kuosmanen, Timo & Post, Thierry, 2002. "Non-parametric production analysis in non-competitive environments," International Journal of Production Economics, Elsevier, vol. 80(3), pages 279-294, December.
- 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.
- Mark Coppejans & Donna Gilleskie & Holger Sieg & Koleman Strumpf, 2007. "Consumer Demand under Price Uncertainty: Empirical Evidence from the Market for Cigarettes," The Review of Economics and Statistics, MIT Press, vol. 89(3), pages 510-521, August.
- Mark Coppejans & Donna Gilleskie & Holger Sieg & Koleman Strumpf, . "Consumer Demand under Price Uncertainty: Empirical Evidence from the Market for Cigarettes," GSIA Working Papers 2006-E43, Carnegie Mellon University, Tepper School of Business.
- Pagan,Adrian & Ullah,Aman, 1999.
Cambridge University Press, number 9780521355643, November.
- Alghalith, Moawia, 2008. "Recent applications of theory of the firm under uncertainty," European Journal of Operational Research, Elsevier, vol. 186(2), pages 443-450, April.
- Appelbaum, Elie, 2006. "A framework for empirical applications of production theory without expected utility," Journal of Economics and Business, Elsevier, vol. 58(4), pages 290-302.
- 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).
- Subal Kumbhakar & Efthymios Tsionas, 2010. "Estimation of production risk and risk preference function: a nonparametric approach," Annals of Operations Research, Springer, vol. 176(1), pages 369-378, April.
- Elie Appelbaum & Parantap Basu, 2010.
"A new methodology for studying the equity premium,"
2010_3, York University, Department of Economics.
- Stéphane Blancard & Jean-Philippe Boussemart & David Crainich & Hervé Leleu, 2008.
"How can allocative inefficiency reveal risk preference? An empirical investigation on French wheat farms,"
2008-ECO-02, IESEG School of Management.
- Blancard, Stephane & Boussemart, Jean-Philippe & Crainich, D. & Leleu, Herve, 2008. "How can allocative inefficiency reveal risk preference? An empirical investigation on French wheat farms," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44208, European Association of Agricultural Economists.
- Alghalith, Moawia, 2006. "Risk preferences under price uncertainties and production risk: A note," Economic Modelling, Elsevier, vol. 23(3), pages 387-390, May.
- 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.
- Paolo Sckokai & Daniele Moro, 2006. "Modeling the Reforms of the Common Agricultural Policy for Arable Crops under Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(1), pages 43-56.
- Elie Appelbaum & Alan D. Woodland, 2008.
"The Effects of Foreign Price Uncertainty on Australian Production and Trade,"
2008_03, York University, Department of Economics.
- Elie Appelbaum & Alan D. Woodland, 2010. "The Effects of Foreign Price Uncertainty on Australian Production and Trade," The Economic Record, The Economic Society of Australia, vol. 86(273), pages 162-177, 06.
- Alghalith, Moawia, 2008. "The manufacturing base under energy price uncertainty," Energy Economics, Elsevier, vol. 30(4), pages 1951-1956, July.
When requesting a correction, please mention this item's handle: RePEc:tpr:restat:v:79:y:1997:i:4:p:631-637. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kristin Waites)
If references are entirely missing, you can add them using this form.