The Theory of Price Uncertainty, Production, and Profit

by Clement A. Tisdell

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Firms and farmers, under pure competition, must make production decisions in the face of price uncertainty. The author has integrated diverse theories of behavior under uncertainty to provide a new framework for his mathematical analysis of the impact of price uncertainty on the behavior of the firm. Drawing upon the work of Knight, Hicks, von Neumann, and Morgenstern, he develops a schema that accounts for a greater diversity of behavior than...

Format:Paperback

Language:English

ISBN:0691622221

ISBN13:9780691622224

Release Date:December 2015

Publisher:Princeton University Press

Length:208 Pages

Weight:0.66 lbs.

Dimensions:0.4" x 6.1" x 9.2"

Related Subjects

Business Business & Investing

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The Theory of Price Uncertainty, Production, and Profit

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