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The Theory of Price Uncertainty, Production, and Profit

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The Theory of Price Uncertainty, Production, and Profit - Tisdell, Clement Allen
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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 economic theorems of practical ...

The Theory of Price Uncertainty, Production, and Profit 2016, Princeton University Press, New Jersey

ISBN-13: 9780691649023

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The Theory of Price Uncertainty, Production, and Profit 2015, Princeton University Press, New Jersey

ISBN-13: 9780691622224

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