Theory of Price Uncertainty, Production, and Profit Tisdell Clement Allen
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…
Specifikacia Theory of Price Uncertainty, Production, and Profit Tisdell Clement Allen
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 value. The conclusions he draws apply to both socialist and capitalist economics.Originally published in 1968.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these
Risk, Uncertainty and Profit
Value, Price, and Profit