Risk-Neutral Monopolists are Variance-Averse
If the production of a risk-neutral monopolist is in uenced by a random variable, then the expected pro t is decreasing in the variance of the production process.
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- Lazear, Edward P & Rosen, Sherwin, 1981.
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- Serguei Kaniovski, 2003. "Risk-Averse Monopolist with Aspiration," WIFO Working Papers 196, WIFO.
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October. Full references (including those not matched with items on IDEAS)
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