Uncertainty, Production, Choice, and Agency Hardback: The State-Contingent Approach - Hardcover

Uncertainty, Production, Choice, and Agency

Buch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - 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. Artikel-Nr. 9780521622448

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