- Titel
- The Firm Under Regret Aversion
- Zitierfähige Url:
- https://nbn-resolving.org/urn:nbn:de:bsz:14-qucosa-219229
- Schriftenreihe
- CEPIE Working Paper
- Bandnummer
- 03/17
- ISSN
- 2510-1196
- Abstract (EN)
- We examine the economic behavior of the regret-averse firm under price uncertainty. We show that the global and marginal effects of price uncertainty on production are both positive (negative) when regret aversion prevails if the random output price is positively (negatively) skewed. In this case, high (low) output prices are much more likely to be seen than low (high) output prices. To minimize regret, the firm is induced to raise (lower) its output optimal level. The skewness of the price distribution as such plays a pivotal role in determining the regret-averse firm\'s production decision.
- Freie Schlagwörter (DE)
- Produktion, Regret Theorie, Schiefe, Unsicherheit
- Freie Schlagwörter (EN)
- Production, Regret theory, Skewness, Uncertainty
- Klassifikation (DDC)
- 330
- Klassifikation (RVK)
- QC 000
- Normschlagwörter (GND)
- Volkswirtschaftslehre
- Publizierende Institution
- Technische Universität Dresden, Dresden
- URN Qucosa
- urn:nbn:de:bsz:14-qucosa-219229
- Veröffentlichungsdatum Qucosa
- 27.02.2017
- Dokumenttyp
- Forschungsbericht
- Sprache des Dokumentes
- Englisch
- Lizenz / Rechtehinweis
