Producer Choice Under Uncertainty

Barry K. Goodwin

Chapter 5 in Lectures in Production and Supply, 2024, pp 65-84 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:Some Specific FunctionsMean-Variance FunctionsStochastic DominanceProblems with Expected Utility TheoryUncertainty in ProductionMechanisms Used to Manage RiskSandmo’s ModelMean-Variance ApproachThe Ag Producer Under Uncertainty + Risk AversionContingent Markets and InsuranceMoral HazardAgent’s Problem

Keywords: Agricultural Production and Supply; Econometrics; Applied Production Analysis (search for similar items in EconPapers)
JEL-codes: C01 C1 D13 D51 E2 (search for similar items in EconPapers)
Date: 2024
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