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Hedging Under Output Price Randomness
Author(s) -
Meyer Jack,
Robison Lindon J.
Publication year - 1988
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1242066
Subject(s) - randomness , intuition , mathematical proof , econometrics , standard deviation , mathematical economics , expected utility hypothesis , economics , scale (ratio) , computer science , mathematics , statistics , philosophy , geometry , epistemology , physics , quantum mechanics
Abstract An expected utility analysis of a frequently studied hedging model is carried out using mean‐standard deviation modeling techniques. This is possible because the hedging model satisfies a location and scale condition. As a result, one can simplify the proofs of, and provide more intuition for, results concerning hedging developed using only expected utility techniques.

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