A dynamic dual model under state-contingent production uncertainty
نویسندگان
چکیده
منابع مشابه
A Dynamic Dual Model under State-contingent Production Uncertainty
In this paper we assess how production costs and capital accumulation patterns in agriculture have evolved over time, by paying special attention to the influence of risk. A dynamic state-contingent cost minimization approach is applied to assess production decisions in US agriculture over the last century. Results suggest the relevance of allowing for the stochastic nature of the production fu...
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Chambers and Quiggin (2000, p i) claim 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 rm, and principalagent relationships. The purpose of this paper is to restate this claim, and to defend it in the light of recent developments in, and applications of, the state-c...
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© Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishing Ltd 2006 doi: 10.1111/j.1467-8489.2006.00320.x Blackwell Publishing, Ltd. Oxford, UK AJAR The Australian Journal of Agricultural and Resource Economics 1364-985X 2006 Australian Ag icul ural and Resource Economics S ciety and Blackwell Publishers Ltd M rch 2006 5 RIGINAL ARTICLE St te-con inge t prod ction J....
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ژورنال
عنوان ژورنال: European Review of Agricultural Economics
سال: 2010
ISSN: 0165-1587,1464-3618
DOI: 10.1093/erae/jbq021