Munich Personal RePEc Archive

Production as behavior toward risk

Hawawini, Gabriel and Michel, Pierre (1979): Production as behavior toward risk. Published in: Recherches Economiques de Louvain , Vol. 45, No. September 1979 (1979): pp. 299-311.


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This article presents a mean-variance model of the risk-averse firm under price uncertainty and examines the impact of uncertainty on the firm's production decision.It then develops a geometric method for comparative-statics analysis.

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