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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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'... 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: The State-Contingent Approach
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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Cambridge University Press, 2000
ISBN 10: 0521785235
ISBN 13: 9780521785235
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
Published by
Cambridge University Press, 2000
ISBN 10: 0521785235
ISBN 13: 9780521785235
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Uncertainty, Production, Choice, and Agency : The State-Contingent Approach
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Cambridge University Press, 2000
ISBN 10: 0521785235
ISBN 13: 9780521785235
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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Cambridge University Press, 2000
ISBN 10: 0521785235
ISBN 13: 9780521785235
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Uncertainty, Production, Choice, and Agency: The State-Contingent Approach
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Cambridge University Press, 2000
ISBN 10: 0521785235
ISBN 13: 9780521785235
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Uncertainty, production, choice, and agency : the state-contingent approach.
Published by
Cambridge University Press, 2000
ISBN 10: 0521785235
ISBN 13: 9780521785235
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Condition: very good. Cambridge & New York : Cambridge University Press, 2000. Paperback. xvi,373 pp. Includes bibliographical references (p. 359-363) and index. Remainder mark. From the publisher : 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. Condition : very good copy. ISBN 9780521785235. Keywords : ECONOMICS, Seller Inventory # 160988
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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: The State-Contingent Approach
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ISBN 13: 9780521785235
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