In this article we model production technology in a state-contingent framework. Our model analyzes production under uncertainty without regard to the nature of producer risk preferences. In our model producers? risk preferences are captured by the risk-neutral probabilities they assign to the different states of nature. Using a state-general state-contingent specification of technology we show that rational producers who encounter the same stochastic technology can make significantly different production choices. Further, we develop an econometric methodology to estimate the risk-neutral probabilities and the parameters of stochastic technology when there are two states of nature and only one of which is observed. Finally, we simulate data ...
Chambers and Quiggin (2000) have used state-contingent production theory to establish important resu...
Chambers and Quiggin (2000) have used state-contingent production theory to establish important resu...
have used state-contingent production theory to establish important results concerning economic beha...
In this article we model production technology in a state-contingent framework. Our model analyzes p...
In this paper we model production technology in a state-contingent framework. Our model analyzes pr...
In this paper we model production technology in a state-contingent framework. Our model analyzes pro...
We model production technology in a state-contingent framework assuming that the firms maximise ex a...
We model production technology in a state-contingent framework assuming that the firms maximize ex a...
In this paper, we model production technology in a state-contingent framework. We assume that all th...
The state-contingent approach developed by Chambers and Quiggin (2000) constitutes an attractive ble...
In a recent paper Rasmussen (Rasmussen 2003) derived criteria for optimal production under uncertain...
Chambers and Quiggin (2000) use state-contingent representations of risky production technologies to...
This paper provides an overview of the literature on production under the influence of risk. Various...
Chambers and Quiggin (2000) use state-contingent representations of risky production technologies to...
Chambers and Quiggin (2000) use state-contingent representations of risky production technologies to...
Chambers and Quiggin (2000) have used state-contingent production theory to establish important resu...
Chambers and Quiggin (2000) have used state-contingent production theory to establish important resu...
have used state-contingent production theory to establish important results concerning economic beha...
In this article we model production technology in a state-contingent framework. Our model analyzes p...
In this paper we model production technology in a state-contingent framework. Our model analyzes pr...
In this paper we model production technology in a state-contingent framework. Our model analyzes pro...
We model production technology in a state-contingent framework assuming that the firms maximise ex a...
We model production technology in a state-contingent framework assuming that the firms maximize ex a...
In this paper, we model production technology in a state-contingent framework. We assume that all th...
The state-contingent approach developed by Chambers and Quiggin (2000) constitutes an attractive ble...
In a recent paper Rasmussen (Rasmussen 2003) derived criteria for optimal production under uncertain...
Chambers and Quiggin (2000) use state-contingent representations of risky production technologies to...
This paper provides an overview of the literature on production under the influence of risk. Various...
Chambers and Quiggin (2000) use state-contingent representations of risky production technologies to...
Chambers and Quiggin (2000) use state-contingent representations of risky production technologies to...
Chambers and Quiggin (2000) have used state-contingent production theory to establish important resu...
Chambers and Quiggin (2000) have used state-contingent production theory to establish important resu...
have used state-contingent production theory to establish important results concerning economic beha...