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Uncertainty, Production, Choice, and Agency
Robert G. Chambers
John Quiggin
其他書名
The State-Contingent Approach
出版
Cambridge University Press
, 2000-09-18
主題
Business & Economics / Consumer Behavior
Business & Economics / Economic History
Business & Economics / Economics / Microeconomics
Business & Economics / Economics / General
Business & Economics / Economics / Theory
Psychology / General
ISBN
0521785235
9780521785235
URL
http://books.google.com.hk/books?id=_R54pqQWvPYC&hl=&source=gbs_api
EBook
SAMPLE
註釋
This book demonstrates 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. The authors demonstrate that dual methods apply under uncertainty and that the dual representations can be developed for stochastic technologies. Moreover, proper exploitation of the properties of alternative primal and dual representations of preferences allows analysts to generalize and extend the results of the existing literature on preferences under uncertainty, thus making expected-utility theory largely superfluous for many decisions.