Optimisation of Production Under Uncertainty : The State-Contingent Approach

Online-Ressource (VIII, 81p. 20 illus, digital)

Includes bibliographical references

Optimisation of Production Under Uncertainty; Preface; Contents; 1 Introduction; Abstract; References; 2 Decision Theory Elements; Abstract; Reference; 3 Utility Function; Abstract; 3.1…Linear Utility Function; 3.2…Leontief Utility Function; 3.3…EU Utility Function; 3.4…EV-Utility Function; 3.5…Cobb-Douglas Utility Function; 3.6…Example; References; 4 State-Contingent Outcome and Preferences; Abstract; References; 5 Preferences and Subjective Probabilities; Abstract; 6 Formulation of the Decision Problem; Abstract; Reference; 7 Connections Between Input and State-Contingent Output; Abstract

7.1…State-General Inputs7.2…State-Specific Input; 7.3…State-Flexible Input; 7.4…Summary; References; 8 Optimising Production Under Uncertainty; Abstract; 8.1…''Good'' and ''Bad'' States of Nature; 8.2…Criteria for the Optimal Use of Inputs; 8.2.1 General Criteria; 8.2.1.1 Optimal Combination of Variable Inputs:; 8.2.1.2 The Optimal Supply of Variable Inputs; 8.2.1.3 The Optimal Allocation of Fixed Inputs; 8.2.2 Generic Example; 8.2.3 State-General, Variable Inputs; 8.2.4 State-Specific Input; 8.2.5 State-Flexible Input; 8.3…Optimisation from the Output Side; 8.3.1 General Criteria

8.3.2 Specific Criteria8.4…Optimisation Under Constraints; 8.4.1 Allocation of a Fixed Input to Multiple Outputs; 8.4.1.1 State-General Inputs; 8.4.1.2 State-Specific Inputs; 8.4.1.3 State-Flexible Inputs; 8.4.2 Minimising Costs; 8.4.3 Minimising Costs for Given Utility Level; References; 9 Summary and Conclusion; Abstract; 9.1…Definitions; 9.2…Main Results; Reference

10.1007/978-3-642-21686-2 [DOI]

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