A RATIONAL EXPECTATIONS MODEL OF INVENTORY HOLDING UNDER RISK AND UNCERTAINTY

Joseph W. Glauber and Mario Miranda ()

No 278113, 1986 Annual Meeting, July 27-30, Reno, Nevada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: In this paper a model of inventory holding under risk and uncertainty is developed and introduced into a model of the U.S. soybean market. Through simulation experiments the effects of risk on price levels and stability are measured and the welfare effects on producers, consumers and inventory holders are discussed.

Keywords: Crop Production/Industries; Production Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 16
Date: 1986-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea86:278113

DOI: 10.22004/ag.econ.278113

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