The Ricardian Rent and the Allocation of Land under Uncertainty: Comment

David Hennessy

European Review of Agricultural Economics, 1997, vol. 24, issue 2, 313-17

Abstract: Results on the comparative statics of land rent under uncertainty published in this journal are extended. Rent increases under any first-degree (second-degree) stochastically dominating shift in the random variable if the utility function is increasing (increasing and concave). Rent also increases under an increasing utility function if costs at the initial optimum level of expected output decreases. Copyright 1997 by Oxford University Press.

Date: 1997
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