Abstract
![CDATA[In this paper we model production technology in a state-contingent framework. We assume that firms maximize ex ante their preference function subject to stochastic technology constraint; in other words they are assumed to act rationally. Consequently a parsimonious parametric model is developed to describe rational producers’ behaviour towards uncertainty.]]
| Original language | English |
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| Title of host publication | Proceedings of ESAM11: Econometric Society Australasian Meeting, Adelaide, South Australia, 5-8 July 2011 |
| Publisher | Econometric Society Australa |
| Number of pages | 5 |
| Publication status | Published - 2011 |
| Event | Econometric Society Australasian Meeting - Duration: 9 Jul 2013 → … |
Conference
| Conference | Econometric Society Australasian Meeting |
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| Period | 9/07/13 → … |