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| Author: | Kumbhakar, S.C. Tveterås, R. |
| Title: | Risk preferences, production risk and firm heterogeneity |
| Journal: | Scandinavian Journal of Economics
2003 : VOL. 105:2, p. 275-293 |
| Index terms: | Production Profit Risk aversion |
| Freeterms: | Company heterogeneity |
| Language: | eng |
| Abstract: | The authors propose a new technique for deriving the risk preference function under production risk and expected utility of profit maximization. The derivation does not depend on a specific parametric for of the utility function or any distribution of the error term representing production risk. The proposed risk preference function is flexible enough to test different types of risk behaviour and symmetry of the output distribution. |
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