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Optimal full-hedging under state-dependent preferences

✍ Scribed by Udo Broll; Kit Pong Wong

Book ID
114348163
Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
57 KB
Volume
42
Category
Article
ISSN
1062-9769

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## Abstract This study examines the behavior of the competitive firm under output price uncertainty and state‐dependent preferences. When there is a futures market for hedging purposes, the firm's optimal production decision is independent of the output price uncertainty and of the state‐dependent