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Timing of decisions and the competitive firm under input price uncertainty |
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| Authors: | Soumyen Sikdar |
| Institution: | University of Minnesota, Minneapolis, MN 55455, USA |
| Abstract: | This paper studies the behavior of a competitive firm faced with input price uncertainty when the ex ante decision variable is output, not the quantities of the inputs. Highly unconventional results are obtained about the effects of uncertainty and of marginal increases in risk. |
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