Long‐Run Comparative Statics Under Output and Land Price Uncertainty
推导了价格不确定环境下竞争性企业的长期可检验假设，发现相对投入需求函数满足斯卢茨基型关系，并讨论了不确定性下同质性条件的缺失与恢复条件。
Abstract Several authors have noticed that, in the uncertain short run, the supply function may slope downward and the input demand functions may slope upward. These possibilities prevent the setup of unambiguous tests of rational behavior. In this article, testable hypotheses for the competitive firm operating in a price‐uncertain environment are derived assuming a long‐run horizon. Some of these hypotheses take the form of Slutsky‐type relations involving the relative input demand functions (the ratios of input to output quantities). Homogeneity restrictions involving input and output mean prices, in general, are absent under uncertainty. Conditions for restoring this homogeneity are also discussed. The main result is the rediscovery of the importance of relative quantities for the analysis of a long‐run equilibrium.