THE OUTPUT RESPONSE OF THE RISK AVERSE FIRM: SOME COMPARATIVE STATICS FOR AGRICULTURAL POLICY
比较了四种基于安全优先和期望效用框架的模型，发现风险厌恶和不确定性会改变农业政策对企业产出的影响，与确定性模型结论冲突，强调政策分析需重视风险因素。
The policy conclusions which stem from the deterministic theory of the competitive firm are well known and unambiguous. However, once product price is regarded as stochastic, there exist several theories upon which to base an analysis of the impact of agricultural policy on the output response of the firm. The paper considers four models from the safety‐first and expected utility frameworks. These models produce a diverse set of comparative statics results which in many instances conflict with those of the deterministic model. Hence, the paper concludes that it is important in agricultural policy analysis that greater consideration by given to the links between risk aversion, policy‐induced uncertainty and output response than is conventionally the case.