Risk aversion and yield uncertainty in duality models of production: A mean-variance approach

被引：52

作者：

Coyle, BT ^{[1
]}

机构：

[1] Univ Manitoba, Dept Agr Econ & Farm Management, Winnipeg, MB R3T 2N2, Canada

来源：

AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS | 1999年 / 81卷 / 03期

关键词：

duality; production; risk; stochastic outputs;

D O I：

10.2307/1244015

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

A duality model of production is developed that endogenizes stochastic output decisions under risk aversion. The model incorporates both yield and price uncertainty and nonlinear mean-variance risk preferences. This permits modeling of the firm's expected output supply and input demand decisions under risk and also, in principle, the firm's output variance decisions. The duality model is tractable for empirical research.

引用

页码：553 / 567

页数：15

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