The state-contingent approach to production under uncertainty

John Quiggin and Robert Chambers ()

No WPR05_1, Risk & Uncertainty Working Papers from Risk and Sustainable Management Group, University of Queensland

Abstract: Chambers and Quiggin, claim that the state-contingent approach provides the best way to think about all problems in the economics of un- certainty, including problems of consumer choice, the theory of the firm, and principal?agent relationships. The purpose of this paper is to restate this claim, and to defend it in the light of recent developments in, and applications of, the state-contingent approach.

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Related works:
Journal Article: The state-contingent approach to production under uncertainty (2006)
Journal Article: The state-contingent approach to production under uncertainty * (2006)
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