A SIMPLE PROCEDURE TO EVALUATE EX-ANTE PRODUCER WELFARE UNDER PRICE UNCERTAINTY

Yacov Tsur

No 13624, Staff Papers from University of Minnesota, Department of Applied Economics

Abstract: We propose a simple and tractable procedure for evaluating producer welfare under price uncertainty. These properties are achieved at the cost of assuming constant absolute risk aversion, where risk attitude depends on the stock of wealth but not on the flow of income. Numerical examples corroborate the procedure's properties; the validity of the constant absolute risk aversion case as an approximation is discussed.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Pages: 16
Date: 1991
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Related works:
Journal Article: A Simple Procedure to Evaluate Ex Ante Producer Welfare under Price Uncertainty (1993)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaesp:13624

DOI: 10.22004/ag.econ.13624

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