Comparative statics for state-contingent technologies

Chambers, R. G. and Quiggin, J. (2008) Comparative statics for state-contingent technologies. Journal of Economics, 93 2: 203-214. doi:10.1007/s00712-007-0291-1

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Author Chambers, R. G.
Quiggin, J.
Title Comparative statics for state-contingent technologies
Journal name Journal of Economics   Check publisher's open access policy
ISSN 0931-9658
1617-7134
Publication date 2008-01-01
Year available 2008
Sub-type Article (original research)
DOI 10.1007/s00712-007-0291-1
Open Access Status
Volume 93
Issue 2
Start page 203
End page 214
Total pages 12
Place of publication Vienna, Austria
Publisher Springer
Language eng
Subject C1
140104 Microeconomic Theory
970114 Expanding Knowledge in Economics
1401 Economic Theory
Abstract The implications of supermodularity conditions in comparative-static analysis are analyzed for a generalized version of the separable-effort representation of a firm facing stochastic prices and a stochastic technology. Previous analysis is generalized in two ways. General risk-averse, as opposed to expected-utility, preferences are considered. The stochastic technology is represented by an Arrow–Debreu state-space representation. It is shown that results familiar from the theory of the price-taking firm in the absence of risk generalize to the uncertain case.
Keyword Supermodularity
Risk aversion
Production
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

 
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Created: Thu, 16 Apr 2009, 03:08:56 EST by Elmari Louise Whyte on behalf of School of Political Science & Internat'l Studies