Description
Book SynopsisFirms 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 Neum
Table of Contents*Frontmatter, pg. i*Preface, pg. vii*Contents, pg. ix*CHAPTER I. Introduction and Outline, pg. 1*CHAPTER II. Some Theories of Decision-Making, pg. 14*CHAPTER III. Static Production Decisions, pg. 42*CHAPTER IV. Static Plans and Dissimilar Production Combinations, pg. 67*CHAPTER V. Some Influences of Price Uncertainty and Price Instability Upon the Firm's Average Profit, pg. 83*APPENDIX TO CHAPTER V. Average Profit and a General Cost Model, pg. 103*CHAPTER VI. Flexibility, Average Profit, and Technique Choice, pg. 106*CHAPTER VII. Dynamic Decision-Making, Average Profit, and Technique Choice, pg. 123*CHAPTER VIII. Price Uncertainty and Industry Profit, pg. 138*CHAPTER IX. Errors, Aggregate Output, and Forward Prices, pg. 151*CHAPTER X. On Dynamic Strands and Other Aspects of the Analysis, pg. 172*APPENDIX I. A Brief Note on the Introduction of Inventories into the Analysis, pg. 184*Bibliography, pg. 190*Index, pg. 195
