Production decisions in case of monotone likelihood ratio shifts of cumulative distribution functions

Yaffa Machnes

doi:10.1016/0167-6687(93)90410-q

Production decisions in case of monotone likelihood ratio shifts of cumulative distribution functions

Yaffa Machnes

Department of Economics

ESSEC Business School

Research output: Contribution to journal › Article › peer-review

Abstract

A firm faces two independent sources of risk: uncertain demand and the background risk to its assets. We show that certainty equivalent behavior occurs in the case of monotone likelihood ratio shifts of the distribution of each of the two sources of risk.

Original language	English
Pages (from-to)	299-302
Number of pages	4
Journal	Insurance: Mathematics and Economics
Volume	13
Issue number	3
DOIs	https://doi.org/10.1016/0167-6687(93)90410-q
State	Published - Dec 1993

Keywords

Likelihood ratio shifts
Production

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10.1016/0167-6687(93)90410-q

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abstract = "A firm faces two independent sources of risk: uncertain demand and the background risk to its assets. We show that certainty equivalent behavior occurs in the case of monotone likelihood ratio shifts of the distribution of each of the two sources of risk.",

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author = "Yaffa Machnes",

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Production decisions in case of monotone likelihood ratio shifts of cumulative distribution functions

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Keywords

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