The state-contingent approach to production under uncertainty

The central claim of this paper is that the state-contingent approach provides the best way to think about all problems in the economics of uncertainty, including problems of consumer choice, the theory of the firm, and principal–agent relationships. This claim is illustrated by recent developments in, and applications of, the state-contingent approach.

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Year of publication:	2006
Authors:	Quiggin, John C. ; Chambers, Robert G.
Published in:	Australian Journal of Agricultural and Resource Economics. - Australian Agricultural and Resource Economics Society - AARES. - Vol. 50.2006, 2
Publisher:	Australian Agricultural and Resource Economics Society - AARES
Subject:	risk \| state-contingent production \| uncertainty \| Risk and Uncertainty

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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