The Effect of Uncertainty on Resource Allocation in a General Equilibrium Model

The Effect of Uncertainty on Resource Allocation in a General Equilibrium Model

I. Introduction, 440. — II. Some partial equilibrium results, 442. — III. Model One: Bandom labor supply, 444.—IV. Model Two: Random production parameter, 453.—V. Summary and conclusions, 458.—Appendix, 458.

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Veröffentlicht in:The Quarterly journal of economics 1971-08, Vol.85 (3), p.440-459
Hauptverfasser: Rothenberg, Thomas J., Smith, Kenneth R.
Format: Artikel
Sprache:eng
Schlagworte:
Economic uncertainty
Industrial production
Labor intensive production
Labor supply
Long run profit maximization
Mathematical independent variables
National income
Production functions
Random variables
Wage rate
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Zusammenfassung:I. Introduction, 440. — II. Some partial equilibrium results, 442. — III. Model One: Bandom labor supply, 444.—IV. Model Two: Random production parameter, 453.—V. Summary and conclusions, 458.—Appendix, 458.
ISSN:0033-5533
1531-4650
DOI:10.2307/1885932