A SIMPLE DUALITY MODEL OF PRODUCTION INCORPORATING RISK AVERSION AND PRICE UNCERTAINTY
Barry T. Coyle
No 270863, 1990 Annual meeting, August 5-8, Vancouver, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Proceeding within the framework of a linear mean-variance utility function, this paper develops a duality model of production that incorporates risk aversion and price uncertainty. In contrast to risk models based on an expected utility function, this model provides a practical alternative to standard duality models for econometric research.
Keywords: Demand and Price Analysis; Risk and Uncertainty (search for similar items in EconPapers)
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