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portada Uncertainty, Production, Choice, and Agency Paperback: The State-Contingent Approach
Type
Physical Book
Publisher
Author
Year
2000
Language
English
Pages
390
Format
Paperback
Weight
1
ISBN
0521785235
ISBN13
9780521785235
Edition No.
1
Categories

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

Robert G. Chambers (Author) · Cambridge University Press · Paperback

Uncertainty, Production, Choice, and Agency Paperback: The State-Contingent Approach - Robert G. Chambers

New Book Imported to South Africa
Delivery: 30 Nov - 04 Dec Shipping: 5 to 6 business days.
R 1,362
R 1,362

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Synopsis "Uncertainty, Production, Choice, and Agency Paperback: The State-Contingent Approach "

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.

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