Cost Functions and Duality for Stochastic Technologies

Robert G. Chambers · John C. Quiggin

60 citations0/0 files storedAmerican Journal of Agricultural Economics

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Agricultural economics and policies Efficiency Analysis Using DEA Agricultural risk and resilience

Abstract

Abstract Cost functions dual to stochastic production technologies are derived and their properties are discussed. These cost functions are shown to be consistent with expected‐utility maximization without placing serious structural restrictions on the underlying technology.

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1996Generalized Expected Utility Theory. The Rank-Dependent Model

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