Risk Preferences, Production Risk and Firm Heterogeneity*
提出一种新方法，在不依赖效用函数具体形式或生产风险误差项分布的情况下，推导风险偏好函数，并允许投入具有正负边际风险，同时处理生产风险、风险偏好和企业异质性，应用于挪威三文鱼养殖数据。
Abstract A new technique is proposed for deriving the risk preference function under production risk and expected utility of profit maximization. The derivation depends on neither a specific parametric form of the utility function nor any distribution of the error term representing production risk. The proposed risk preference function is flexible enough to test different types of risk behavior and symmetry of the output distribution. Furthermore, our production risk specification allows for inputs with positive and negative marginal risk. The econometric model accommodates production risk, risk preferences and firm heterogeneity simultaneously . Norwegian salmon farming data are used as an application.