Production as behavior toward risk
This article presents a mean-variance model of the risk-averse firm under price uncertainty and examines the impact of uncertainty on the firm's production decision.It then develops a geometric method for comparative-statics analysis.
|Date of creation:||1979|
|Date of revision:|
|Publication status:||Published in Recherches Economiques de Louvain September 1979.45(1979): pp. 299-311|
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Web page: https://mpra.ub.uni-muenchen.de
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- Leland, Hayne E, 1972. "Theory of the Firm Facing Uncertain Demand," American Economic Review, American Economic Association, vol. 62(3), pages 278-91, June.
- Hawawini, Gabriel, 1978. "A mean-standard deviation exposition of the theory of the firm under uncertainty," MPRA Paper 10148, University Library of Munich, Germany.
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