Competitive firm and resource allocation under uncertain capital service.
A study examined the effects of uncertain capital service and industry risk pooling on the behavior of a competitive firm and the allocation of resources. A two-sector general equilibrium framework was used. It was found that capital service uncertainty leads to a reduction in a firm's output, inp...
| Publicado en: | Southern Economic Journal Vol. 57; pp. 208 - 221 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Southern Economic Association
July 1990
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=512146149&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512146149 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00384038 SEJ jtl: Southern Economic Journal issn: 00384038 maglogo: N pubinfo: dt: July 1990 vid: 57 pid: 1482 pub: Southern Economic Association artinfo: ui: 512146149 10.2307/1060490 ppf: 208 ppct: 13 formats: tig: atl: Competitive firm and resource allocation under uncertain capital service. aug: au: Martin, Robert E. Yu, Eden S. H. su: Resource allocation -- Mathematical models Production (Economic theory) Uncertainty Economics sug: subj: Resource allocation -- Mathematical models Production (Economic theory) Uncertainty Economics ab: A study examined the effects of uncertain capital service and industry risk pooling on the behavior of a competitive firm and the allocation of resources. A two-sector general equilibrium framework was used. It was found that capital service uncertainty leads to a reduction in a firm's output, inputs, and capital labor and that a reduction in capital reliability or a marginal increase in uncertainty produces a similar effect. Other findings involved the effect of changes in factor endowments and output prices on sectoral factor intensities, input utilization, factor rewards, and output levels. In addition, it was shown that, given risk aversion, the factor-price equalization theorem fails to hold and the Stopler-Samuelson and Rybczynski theorems are only partially valid. The results in the traditional general equilibrium models were mitigated or even reversed by the presence of uncertain capital services. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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