ON THE COMPETITIVE FIRM UNDER PRODUCTION UNCERTAINTY

Risky production functions which are commonly in use are shown to be very restrictive. In particular, such functions cannot describe technologies where inputs marginally reduce risk. A simple production function which avoids these restrictions is posited and alternative estimation procedures are discussed. Both maximum likelihood and multistage estimators are discussed.


Issue Date:
1977-08
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/22481
Published in:
Australian Journal of Agricultural Economics, Volume 21, Number 2
Page range:
111-118
Total Pages:
8




 Record created 2017-04-01, last modified 2017-08-24

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