Theory of Price Uncertainty, Production, and Profit

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 Neum

Firmele si fermierii, sub concurenta pura, trebuie sa ia decizii de productie in fata incertitudinii preturilor. Autorul a integrat diverse teorii ale comportamentului in conditii de incertitudine pentru a oferi un nou cadru pentru analiza sa matematica a impactului incertitudinii preturilor asupra comportamentului firmei.