STOCHASTIC PRODUCTION AND THE LAW OF SUPPLY

This paper analyzes the problem of deriving the law of supply from plausible restrictions onobserved input-output choices of a competitive firm, when the firm makes random input-outputdecisions. It models such random production behavior in terms of a stochastic supply function,and introduces a restriction on a stochastic supply function which leads to a stochastic version ofthe law of supply...

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Authors:	Dasgupta, Indraneel
Institutions:	University <Nottingham> / Department of Economics
Subject:	Produktion \| Manufacturing Engineering \| Beschaffung \| supply \| Stochastik \| Fertigungsprozeß

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Extent:	76800 bytes 14 p. application/pdf
Series:	The University of Nottingham / School of Economics - discussion papers DISCUSSION PAPER ; NO. 99/1
Type of publication:	Book / Working Paper
Language:	English
Classification:	Market research ; Industrial management ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005869311