On Total Price Uncertainty and the Behavior of a Competitive Firm

Bahram Adrangi and Kambiz Raffiee

The American Economist, 1999, vol. 43, issue 2, 59-65

Abstract: In this paper, a general model of the competitive firm's behavior under output and factor (total) price uncertainty is developed to evaluate the role of market interdependencies in analyzing long-run equilibrium conditions and comparative statics analysis of increased uncertainty in output and input prices. It is demonstrated that the results shown in the literature are a special case of the findings reported here and market interdependencies play a central role in determining the firm's long-run equilibrium under uncertainty.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:sae:amerec:v:43:y:1999:i:2:p:59-65

DOI: 10.1177/056943459904300206

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