Risk Aversion and Yield Uncertainty in Duality Models of Production: A Mean‐Variance Approach
构建了一个考虑风险规避的生产对偶模型，将产量和价格不确定性以及非线性均值-方差风险偏好内生化，可用于分析企业的预期产出供给和投入需求决策。
Abstract A duality model of production is developed that endogenizes stochastic output decisions under risk aversion. The model incorporates both yield and price uncertainty and nonlinear mean‐variance risk preferences. This permits modeling of the firm's expected output supply and input demand decisions under risk and also, in principle, the firm's output variance decisions. The duality model is tractable for empirical research.