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Production as behavior toward risk

Author

Listed:
  • Hawawini, Gabriel
  • Michel, Pierre

Abstract

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.

Suggested Citation

  • Hawawini, Gabriel & Michel, Pierre, 1979. "Production as behavior toward risk," MPRA Paper 33975, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:33975
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    File URL: https://mpra.ub.uni-muenchen.de/33975/1/MPRA_paper_33975.pdf
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    References listed on IDEAS

    as
    1. Hawawini, Gabriel, 1978. "A mean-standard deviation exposition of the theory of the firm under uncertainty," MPRA Paper 10148, University Library of Munich, Germany.
    2. Leland, Hayne E, 1972. "Theory of the Firm Facing Uncertain Demand," American Economic Review, American Economic Association, vol. 62(3), pages 278-291, June.
    3. Sandmo, Agnar, 1971. "On the Theory of the Competitive Firm under Price Uncertainty," American Economic Review, American Economic Association, vol. 61(1), pages 65-73, March.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Hawawini, Gabriel & Michel, Pierre, 1979. "Theory of the risk averse producer cooperative firm under uncertain demand," MPRA Paper 33973, University Library of Munich, Germany.

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    More about this item

    Keywords

    Theory of the firm under price uncertainty; production under price uncertainty;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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