In a competitive market where only output price is uncertain, risk averse producers always respond positively to a better protection against downward price fluctuations. In this note, the authors analyze the robustness of this result when there is more than one source of risk. Copyright 1989 by...

This paper aims to extend the results by Ross (1981) [15] and by Modica and Scarsini (2005) [13] to stochastic dominance of degree 4 and over. Specifically, it is shown that Ross' approach can be extended to any order of risk attitude beyond the generalization proposed by Modica and Scarsini by...