Price stabilization and the risk-averse firm

Chambers, Robert G. and Quiggin, John (2003) Price stabilization and the risk-averse firm. American Journal of Agricultural Economics, 85 2: 336-347. doi:10.1111/1467-8276.00123

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Author Chambers, Robert G.
Quiggin, John
Title Price stabilization and the risk-averse firm
Journal name American Journal of Agricultural Economics   Check publisher's open access policy
ISSN 0002-9092
Publication date 2003-05
Sub-type Article (original research)
DOI 10.1111/1467-8276.00123
Volume 85
Issue 2
Start page 336
End page 347
Total pages 12
Editor R. J. Meyers
I. M. Sheldon
B. Wade Brorsen
P. Berck
Place of publication USA
Publisher Blackwell Publishing Inc
Collection year 2003
Language eng
Subject C1
340201 Agricultural Economics
720204 Industry policy
Abstract An analytically simple and tractable approach to firm-level welfare analysis of complete and partial mean-preserving price stabilization for producers with general risk-averse preferences facing a stochastic technology is developed. Necessary and sufficient conditions for price stabilization to be welfare enhancing are derived under different assumptions of the producer's preferences and the producer's technology. Existing stabilization results for the risk-averse firm are shown to be corollaries of these more general results.
Keyword Agricultural Economics & Policy
Economics
Price Stabilization
Duality
Risk Aversion
State-contingent Technology
Competitive Firm
Uncertainty
Q-Index Code C1

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
2004 Higher Education Research Data Collection
School of Economics Publications
 
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Citation counts: TR Web of Science Citation Count  Cited 5 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 6 times in Scopus Article | Citations
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Created: Wed, 15 Aug 2007, 02:29:12 EST