Optimal output for the regret-averse competitive firm under price uncertainty

被引：5
|
作者：
Egozcue M. [1 ]
Guo X. [2 ]
Wong W.-K. [3 ]
机构：
[1] Department of Accounting and Finance, Norte Construcciones S.A, Punta del Este
[2] College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing
[3] Department of Economics, Hong Kong Baptist University, WLB, Shaw Campus Kowloon Tong Hong Kong, Kowloon
来源：
Eurasian Economic Review | 2015年 / 5卷 / 2期
关键词：
Competitive firm; Decision making; Optimal output; Regret aversion; Risk aversion;
D O I：
10.1007/s40822-015-0030-9
中图分类号：
学科分类号：
摘要：
We study the optimal output of a competitive firm under price uncertainty. Instead of assuming a risk-averse firm, we assume that the firm is regret-averse. We find that optimal output under uncertainty would be lower than under certainty. We also prove that optimal output could increase or decrease when the regret factor varies. © 2015, Eurasia Business and Economics Society.
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页码：279 / 295
页数：16
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