Tilstrækkelig forsyning The Theory of Price Uncertainty Production and Profit by Clement Allen Tisdell 7e3Vp8lh

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Firms and farmers under pure competition must make production decisions in the face of price uncertainty. The author has integrated diverse theories of behavior under uncertainty to provide a new framework for his mathematical analysis of the impact of price uncertainty on the behavior of the firm. Drawing upon the work of Knight Hicks von Neumann and Morgenstern he develops a schema that accounts for a greater diversity of behavior than do existing theories yet one which yields simple ec