Producer Preference for Price Stability

L. Dean Hiebert

American Journal of Agricultural Economics, 1984, vol. 66, issue 1, 88-90

Abstract: Producer preference for product price variability vis-à-vis price stability at the mean is examined in a simple two-input model where one input is chosen after price is known while the other input must be chosen before price is observed. The result shows that risk-neutral producers may strictly prefer price stability.

Date: 1984
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