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.


Issue Date:
2006-06
Publication Type:
Journal Article
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/116925
PURL Identifier:
http://purl.umn.edu/116925
Published in:
Australian Journal of Agricultural and Resource Economics, 50, 2
Page range:
153-169
Total Pages:
17




 Record created 2017-04-01, last modified 2020-10-28

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