technology requires both capital and labor to produce the output. Due to the presence of flexibility in production, the level of … in production, the optimal production decisions are different between a risk-neutral firm and a risk-averse firm, i ….e., the separation result does not hold. Moreover, flexibility in production implies only partial hedging with an actuarially …

Production Activities, the Use of Experience Rating May Increase Welfare. Examples Are Given. …

'emploi Total et la Production Totale, Mais la Confirment Dans Sa Forme Usuelle, C'est-A-Dire Quand la Loi de Verdoorn Mesure les …