Input Price Uncertainty and Factor Demand

S. Devadoss and E. Choi

Center for Agricultural and Rural Development (CARD) Publications from Center for Agricultural and Rural Development (CARD) at Iowa State University

Abstract: A simple two-input and one-output model is used to examine the effects of variable input price uncertainty on a quasi-fixed factor. These theoretical results, applied to a livestock firm, indicate that choice of the quasi-fixed factor depends upon the attitude of the farmer toward risk and whether the inputs are complements, substitutes, or independents.

Date: 1987-06
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Persistent link: https://EconPapers.repec.org/RePEc:ias:cpaper:87-wp25

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