Uncertainty, Production, Choice, and Agency : The State-Contingent Approach

Rating:
Summary: good for modelling production and finance
Review: shows various ways to model production and choice under uncertainty. well written, many examples and graphs. ideal for graduate students who have basic concepts of production and uncertainty.



Rating:
Summary: A pathbreaking contribution on the economics of uncertainty
Review: This book is a must for any graduate program in Economics. The authors show how the state-contingent approach can be extended to production problems breaking the path for a unified duality theory under uncertainty. They also show that agency theory does not need to be inacessible for someone who does not care much about probability theory. Bravo!