Optimal output for the regret-averse competitive firm under price uncertainty
Xu Guo () and
Wing-Keung Wong ()
Eurasian Economic Review, 2015, vol. 5, issue 2, 279-295
We study the optimal output of a competitive firm under price uncertainty. Instead of assuming a risk-averse firm, we assume that the firm is regret-averse. We find that optimal output under uncertainty would be lower than under certainty. We also prove that optimal output could increase or decrease when the regret factor varies. Copyright Eurasia Business and Economics Society 2015
Keywords: Optimal output; Competitive firm; Risk aversion; Regret aversion; Decision making; D00; D03; D21 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
Working Paper: Optimal Output for the Regret-Averse Competitive Firm Under Price Uncertainty (2013)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:eurase:v:5:y:2015:i:2:p:279-295
Ordering information: This journal article can be ordered from
Access Statistics for this article
Eurasian Economic Review is currently edited by Dorothea Schäfer
More articles in Eurasian Economic Review from Springer, Eurasia Business and Economics Society Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().