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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.
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Review
'... 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
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UNCERTAINTY PRODUCTION CHOICE AND AGENCY (HB 2000)
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UNCERTAINTY PRODUCTION CHOICE AND AGENCY (HB 2000)
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UNCERTAINTY PRODUCTION CHOICE AND AGENCY (HB 2000)
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ISBN 13: 9780521622448
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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ISBN 13: 9780521622448
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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ISBN 13: 9780521622448
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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Uncertainty, Production, Choice, and Agency (Hardcover)
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Hardcover. Condition: new. Hardcover. 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. Justification of the state-contingent approach to the economics of uncertainty. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780521622448
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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ISBN 10: 0521622441
ISBN 13: 9780521622448
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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