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文章基本信息

  • 标题:OPTIMAL RISK MANAGEMENT, RISK AVERSION, AND PRODUCTION FUNCTION PROPERTIES
  • 本地全文:下载
  • 作者:Loehman, Edna T. ; Nelson, Carl H.
  • 期刊名称:Journal of Food Distribution Research
  • 印刷版ISSN:0047-245X
  • 出版年度:1992
  • 页码:219-231
  • 出版社:Food Distribution Research Society
  • 摘要:For production risk with identified physical causes, the nature of risk, production characteristics, risk preference, and prices determine optimal input use. Here, a two-way classification for pairs of inputs – each input as being risk increasing or decreasing and pairs as being risk substitutes or complements – provides sufficient conditions to determine how risk aversion should affect input use. Unlike the Sandmo price risk averse firm may produce more expected output and use more inputs than a risk neutral firm. Sufficient conditions to determine types for pairs of inputs are also related to properties of the production function.
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