On the Theory of the Competitive Firm Under Price Uncertainty*

Agnar Sandmo (1971) “On the Theory of the Competitive Firm Under Price Uncertainty."  The American Economic Review, Vol. 61, No. 1 (Mar., 1971), pp. 65-73.  URL: http://www.jstor.org/stable/1910541; lse.ac.uk 提供的 [PDF];****

==note by yinung==

這篇利用 risk-averse 的 utility function 假設, 證明完全競爭廠商, 在有 price uncertainty 下, 最佳決策是

p>c'(x)

where c'(x),邊際成本, is increasing in x