Risky production functions which are commonly in use are shown to be very restrictive. In particular, such functions cannot describe technologies where inputs marginally reduce risk. A simple production function which avoids these restrictions is posited and alternative estimation procedures are discussed. Both maximum likelihood and multistage estimators are discussed
In a competitive market where only output price is uncertain, risk averse producers always respond p...
While estimating parametric production models with risk, one faces two main problems. The first prob...
The state-contingent approach to production economics presented by Chambers and Quiggin provides a n...
Risky production functions which are commonly in use are shown to be very restrictive. In particular...
This paper provides an overview of the literature on production under the influence of risk. Various...
The theory of the firm under uncertainty has been usually studied using the expected utility approac...
This paper concerns the case of a monopolist facing multiplicative uncertainty in demand. Karlin and...
In this paper we model production technology in a state-contingent framework. We assume that firms m...
This paper examines the production and hedging decisions of the competitive firm under output price ...
Abstract This paper examines the production decision of the competitive firm under uncertainty when ...
This paper summarizes and synthesizes recent developments in the state-contingent theory of producti...
For production risk with identified physical causes, the nature of risk, production characteristics,...
This paper examines the optimal production decision of a firm under output price risk à la Sandmo wh...
This paper has two goals. First, we demonstrate that standard arguments and methods from production ...
For production risk with identified physical causes, the nature of risk, pro-duction characteristics...
In a competitive market where only output price is uncertain, risk averse producers always respond p...
While estimating parametric production models with risk, one faces two main problems. The first prob...
The state-contingent approach to production economics presented by Chambers and Quiggin provides a n...
Risky production functions which are commonly in use are shown to be very restrictive. In particular...
This paper provides an overview of the literature on production under the influence of risk. Various...
The theory of the firm under uncertainty has been usually studied using the expected utility approac...
This paper concerns the case of a monopolist facing multiplicative uncertainty in demand. Karlin and...
In this paper we model production technology in a state-contingent framework. We assume that firms m...
This paper examines the production and hedging decisions of the competitive firm under output price ...
Abstract This paper examines the production decision of the competitive firm under uncertainty when ...
This paper summarizes and synthesizes recent developments in the state-contingent theory of producti...
For production risk with identified physical causes, the nature of risk, production characteristics,...
This paper examines the optimal production decision of a firm under output price risk à la Sandmo wh...
This paper has two goals. First, we demonstrate that standard arguments and methods from production ...
For production risk with identified physical causes, the nature of risk, pro-duction characteristics...
In a competitive market where only output price is uncertain, risk averse producers always respond p...
While estimating parametric production models with risk, one faces two main problems. The first prob...
The state-contingent approach to production economics presented by Chambers and Quiggin provides a n...
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