The state-contingent approach to production under uncertainty

J. Quiggin, Robert Chambers

    Research output: Contribution to journalArticle

    27 Citations (Scopus)

    Abstract

    The central claim of this paper is that the state-contingent approach provides the best way to think about all problems in the economics of uncertainty, including problems of consumer choice, the theory of the firm, and principal-agent relationships. This claim is illustrated by recent developments in, and applications of, the state-contingent approach.
    Original languageEnglish
    Pages (from-to)153-169
    JournalThe Australian Journal of Agricultural and Resource Economics
    Volume50
    Issue number2
    DOIs
    Publication statusPublished - 2006

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