Decomposing input adjustments under price and production uncertainty

Robert G. Chambers, John Quiggin

    Research output: Contribution to journalArticlepeer-review

    16 Citations (Scopus)

    Abstract

    A decomposition of input adjustments for stochastic technologies is developed and applied to the case of actuarially fair production insurance. The decomposition consists of a pure-risk effect and an expansion effect which are analogous to the Hicks-Allen decomposition familiar from consumer theory.

    Original languageEnglish
    Pages (from-to)20-34
    Number of pages15
    JournalAmerican Journal of Agricultural Economics
    Volume83
    Issue number1
    DOIs
    Publication statusPublished - 2001

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