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Formulation of the Decision Problem

Chapter
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Part of the SpringerBriefs in Economics book series (BRIEFSECONOMICS)

Abstract

This chapter includes a formal definition of the decision problem under uncertainty and the concepts involved.

Keywords

Production Controllable inputs Non-controllable inputs Net-income Economic consequences 

Reference

  1. Rasmussen, S. (2006). Optimizing production under uncertainty. Generalization of the state-contingent approach and comparison with the EV model. FOI Working Papers no. 5/2006, Institute of food and resource economics. The Royal Veterinary and Agricultural University, Copenhagen.Google Scholar

Copyright information

© Svend Rasmussen 2011

Authors and Affiliations

  1. 1.Institute of Food and Resource EconomicsUniversity of CopenhagenFrederiksberg C, CopenhagenDenmark

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