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2011 | OriginalPaper | Chapter

7. Connections Between Input and State-Contingent Output

Author : Svend Rasmussen

Published in: Optimisation of Production Under Uncertainty

Publisher: Springer Berlin Heidelberg

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Abstract

This chapter focuses on the production process, and especially the relationship between state of nature, choice of input and production of output, and it introduces the concepts of state-general, state-specific and state-flexible inputs.

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previous chapter Formulation of the Decision Problem
next chapter Optimising Production Under Uncertainty
Footnotes
1
Chambers and Quiggin (2000) describe such a technology as “State-allocable input technology”
 
Literature
Chambers, R., & Quiggin, J. (2000). Uncertainty production, Choices, and agency. The state-contingent approach. Cambridge: Cambridge University Press.
Rasmussen, S. (2011). Production economics the basic theory of production optimisation. Berlin: Springer.
Metadata
Title
Connections Between Input and State-Contingent Output
Author
Svend Rasmussen
Copyright Year
2011
Publisher
Springer Berlin Heidelberg
Book
Optimisation of Production Under Uncertainty

Print ISBN: 978-3-642-21685-5

Electronic ISBN: 978-3-642-21686-2

Copyright Year: 2011

DOI
https://doi.org/10.1007/978-3-642-21686-2_7