Nauges, Céline; O'Donnell, Christopher J.; Quiggin, John - In: European Review of Agricultural Economics 38 (2011) 4, pp. 449-467
In this article, we present one of the first real-world empirical applications of state-contingent production theory. Our state-contingent behavioural model allows us to analyse production under both inefficiency and uncertainty without regard to the nature of producer risk preferences. Using...