Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

PRODUCTION RISK AND EFFICIENT ALLOCATION OF RESOURCES

PRODUCTION RISK AND EFFICIENT ALLOCATION OF RESOURCES Efficient allocation of resources has usually been couched in risk less terms, partly because statistical techniques did not exist for measuring the impact of varying levels of factors of production on risks associated with production. Now that such techniques are available, methods are required for determining efficient allocations. Such models, particularly those exploiting stochastic efficiency analysis, are illustrated here with respect to empirical risk‐sensitive, farm‐firm production functions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

Loading next page...
 
/lp/wiley/production-risk-and-efficient-allocation-of-resources-fhmjzpuxSs

References (17)

Publisher
Wiley
Copyright
Copyright © 1982 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/j.1467-8489.1982.tb00415.x
Publisher site
See Article on Publisher Site

Abstract

Efficient allocation of resources has usually been couched in risk less terms, partly because statistical techniques did not exist for measuring the impact of varying levels of factors of production on risks associated with production. Now that such techniques are available, methods are required for determining efficient allocations. Such models, particularly those exploiting stochastic efficiency analysis, are illustrated here with respect to empirical risk‐sensitive, farm‐firm production functions.

Journal

The Australian Journal of Agricultural Resource EconomicsWiley

Published: Dec 1, 1982

There are no references for this article.