Abstract
This chapter is an introduction to the book. It explains why decision making under uncertainty involves special challenges which cannot be dealt with using the traditional production economic theory.
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In the following, the term ‘riskless’ is used to describe projects where the outcome is received with certainty.
References
Anderson, J., Dillon, J., & Hardaker, J. (1977). Agricultural decision analysis. Ames: Lowa State University Press.
Chambers, R., & Quiggin, J. (2000). Uncertainty, production, choices, and agency. The state-contingent approach. Cambridge: Cambridge University Press.
Hirshleifer, J., & Riley, J. (1992). The analytics of uncertainty and information. New York: Cambridge University Press.
Rasmussen, S. (2011). Production economics. the basic theory of production optimisation. Berlin: Springer.
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© 2011 Svend Rasmussen
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Rasmussen, S. (2011). Introduction. In: Optimisation of Production Under Uncertainty. SpringerBriefs in Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-21686-2_1
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DOI: https://doi.org/10.1007/978-3-642-21686-2_1
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Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-21685-5
Online ISBN: 978-3-642-21686-2
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