Comparative statics for state-contingent technologies

Robert G. Chambers and John Quiggin

No 150351, Risk and Sustainable Management Group Working Papers from University of Queensland, School of Economics

Abstract: The implications of supermodularity for comparative-static analysis in a generalized version of the separable-effort representation of a firm facing stochastic prices and a stochastic technology are. Previous analysis is generalized in two ways. General risk-averse, as opposed to expected-utility, preferences are considered. The stochastic technology is represented by an Arrow-Debreu state-space representation. It is shown that results familiar from the theory of the price taking firm in the absence of risk generalize to the uncertain case.

Keywords: Production Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 14
Date: 2003-11-30
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Related works:
Journal Article: Comparative statics for state-contingent technologies (2008)
Working Paper: Comparative statics for state-contingent technologies (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uqsers:150351

DOI: 10.22004/ag.econ.150351

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