Production theory under price uncertainty for firms with disappointment aversion
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DOI: 10.1080/00207543.2020.1733699
Abstract: This paper studies the production theory of the competitive firm under price uncertainty by adopting four of the most well-established models of disappointment aversion. Our results show that a disappointment-averse firm will generally produce less… read more here.
Keywords: production; disappointment aversion; production theory; price uncertainty ... See more keywords