Exact Welfare Measurement for Producers under Uncertainty

Douglas M. Larson

American Journal of Agricultural Economics, 1988, vol. 70, issue 3, 597-603

Abstract: Ex ante compensating and equivalent variations for producers under price or production uncertainty frequently can be obtained from properly specified ordinary ex ante output supply or input demand functions without assumptions about the decision maker's risk aversion. The Slutsky-Hicks equations for several common empirical specifications of the production problem under uncertainty can be integrated to obtain the compensated supplies (demands) from observed ordinary supplies (demands). Closed-form expressions for the exact welfare measures of parameter changes are derived for these cases.

Date: 1988
References: Add references at CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://hdl.handle.net/10.2307/1241498 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:70:y:1988:i:3:p:597-603.

Access Statistics for this article

American Journal of Agricultural Economics is currently edited by Madhu Khanna, Brian E. Roe, James Vercammen and JunJie Wu

More articles in American Journal of Agricultural Economics from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().