The Ricardian rent and the allocation of land under uncertainty
将风险和风险厌恶引入李嘉图模型,分析土地定价与配置,揭示不确定性如何影响租金、农业产出、土地平均生产率及市场均衡性质。
Risk and risk aversion are introduced in a Ricardian model of the pricing and allocation of land. The rental price of land and agricultural production decisions are analysed in a market equilibrium context. It is shown how uncertainty influences the Ricardian rent, farm output, the average productivity of the land, and the nature of market equilibrium.