Connections Between Input and State-Contingent Output

Svend Rasmussen ()
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Svend Rasmussen: University of Copenhagen

Chapter Chapter 7 in Optimisation of Production Under Uncertainty, 2011, pp 35-41 from Springer

Abstract: Abstract This chapter focuses on the production process, and especially the relationship between state of nature, choice of input and production of output, and it introduces the concepts of state-general, state-specific and state-flexible inputs.

Keywords: State-contingent output; Joint production; State-specific input; State-flexible input; State-general input; Transformation curve (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-642-21686-2_7

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DOI: 10.1007/978-3-642-21686-2_7

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