Estimation of Moments and Production Decisions Under Uncertainty
用非参数方法估计未知价格分布的前四阶矩，结合对偶理论，为分析价格不确定性下的供给与需求决策提供了一个简单的实证框架，并检验了高阶矩对企业生产决策及风险态度的影响。
The purpose of this paper is to examine production decisions under output price uncertainty. Using a nonparametric estimation technique to estimate the first four moments of the unknown price distribution and applying duality, we provide a simple empirical framework for the analysis of supply and demand decisions under price uncertainty. The model is used to examine the importance of higher moments in the firm's production decisions and to investigate underlying attitudes toward risk. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology