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A PRODUCER'S WILLINGNESS TO PAY FOR INFORMATION UNDER PRICE UNCERTAINTY: THEORY AND APPLICATION

The theory of the competitive firm under price uncertainty is used to develop a money metric of a producer's willingness to pay for additional information. For a restricted class of utility functions, empirical estimates of the money using secondary data can be derived from the firm's risk averse supply or factor demand function. The procedure is illustrated by an application to an agricultural market.
Year of publication:
1984
Authors: Roe, Terry L. ; Antonovitz, Frances
Institutions: Department of Applied Economics, College of Agricultural, Food, and Environmental Sciences
Subject: Marketing
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Notes:
The text is part of a series Department of Applied Economics>Staff Papers Number 14013
Source:
Persistent link: https://www.econbiz.de/10005500815
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