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dc.contributor.authorBroll, Udoen_US
dc.contributor.authorEgozcue, Martínen_US
dc.contributor.authorWong, Wing-Keungen_US
dc.date.accessioned2009-06-08en_US
dc.date.accessioned2010-07-15T09:41:03Z-
dc.date.available2010-07-15T09:41:03Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/36497-
dc.description.abstractWithin the prospect theory the paper examines production and hedging decisions of a competitive firm under price uncertainty. We consider the prospect theory for the firm's utility function in the two moment model known as (mu,sigma)-preference. In contrast to the literature our findings show that the production under uncertainty can be larger than in the certainty case. Furthermore, we demonstrate that although the futures markets are unbiased the firm is overhedging.en_US
dc.language.isoengen_US
dc.publisherUniv. of Technology, Fac. of Business Management and Economics Dresdenen_US
dc.relation.ispartofseriesDresden discussion paper series in economics 01/09en_US
dc.subject.jelD21en_US
dc.subject.jelD41en_US
dc.subject.jelD81en_US
dc.subject.ddc330en_US
dc.subject.keywordProspect theory, mean-variance model, price uncertaintyen_US
dc.titleProspect theory and two moment model: the firm under price uncertaintyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn601230442en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:tuddps:0109-
Appears in Collections:Dresden Discussion Paper Series in Economics, Faculty of Business and Economics, TU Dresden

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