A Theoretical Analysis Tool in the Theory of the Firm under Uncertainty
DOI:
https://doi.org/10.46661/revmetodoscuanteconempresa.2093Keywords:
Modelización de incertidumbre, empresa bajo incertidumbre, incertidumbre en varias variables, uncertainty modelling, firm under uncertainty, uncertainty in several variables.Abstract
In this paper we present a reformulation of a lemma due to Lippman and McCall -initially formulated a unique random variable- to be applied to the case of several random variables, and we illustrate its use in the theory of the firm under uncertainty. We have performed this on a recent model of the theory, for which the respective optimal levels chosen by the firm with and without uncertainty are compared in a more direct way than that used originally by its authors. We also make use of the lemma, in the context of the same model, to study the effect of a variation in risk aversion, which had not been studied before.
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