Articles liés à Uncertainty, Production, Choice, and Agency: The State-Conti...

Uncertainty, Production, Choice, and Agency: The State-Contingent Approach - Couverture rigide

Chambers, Robert G.; Quiggin, John

 
9780521622448: Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
Couverture rigide
ISBN 10 : 0521622441 ISBN 13 : 9780521622448
Editeur : Cambridge University Press, 2000

Synopsis

This book demonstrates that the state-contingent approach provides the best way to think about all problems in the economics of uncertainty, including problems of consumer choice, the theory of the firm, and principal agent relationships. The authors demonstrate that dual methods apply under uncertainty and that the dual representations can be developed for stochastic technologies. Moreover, proper exploitation of the properties of alternative primal and dual representations of preferences allows analysts to generalize and extend the results of the existing literature on preferences under uncertainty, thus making expected-utility theory largely superfluous for many decisions. These insights open the way for developments in the basic theory of production under uncertainty, the theory of hedging behavior, the analysis of agency problems and the theory of production insurance.

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Présentation de l'éditeur

This book demonstrates that the state-contingent approach provides the best way to think about all problems in the economics of uncertainty, including problems of consumer choice, the theory of the firm, and principal agent relationships. The authors demonstrate that dual methods apply under uncertainty and that the dual representations can be developed for stochastic technologies. Moreover, proper exploitation of the properties of alternative primal and dual representations of preferences allows analysts to generalize and extend the results of the existing literature on preferences under uncertainty, thus making expected-utility theory largely superfluous for many decisions. These insights open the way for developments in the basic theory of production under uncertainty, the theory of hedging behavior, the analysis of agency problems and the theory of production insurance.

Revue de presse

'... tremendous scope of achievement in this signal contribution to the literature ... I would be remiss in doing other than recommend that Journal readers join me in treasuring this book in their library.' The Australian Journal of Agricultural and Resource Economics

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Cambridge University Press
Date d'édition
2000
Langue
anglais
ISBN 10 
0521622441
ISBN 13 
9780521622448
Reliure
Relié
Nombre de pages
390
Coordonnées du fabricant
non disponible
Personne responsable
Avery
https://www.avery.fr/

chemin des peupliers 27
Dardilly
France