Dellas, Harris; Fernandes, Ana (December 2006). The Allocation of Resources under Uncertainty (Discussion Papers 06-06). Bern: Department of Economics
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We study the effects of uncertainty on the allocation of resources in the standard, static, general equilibrium, two-sector, two-factor model. The elasticity of substitution in production vs that in consumption plays a key role in determining whether uncertainty attracts or repels resources. Risk aversion matters, but to a smaller extent, while factor endowments and factor intensities play a more limited role.
Item Type: |
Working Paper |
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Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Dellas, Harris, Fernandes, Ana |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
Series: |
Discussion Papers |
Publisher: |
Department of Economics |
Language: |
English |
Submitter: |
Lars Tschannen |
Date Deposited: |
02 Oct 2020 07:46 |
Last Modified: |
05 Dec 2022 15:39 |
JEL Classification: |
E2, D5, D8 |
BORIS DOI: |
10.7892/boris.145690 |
URI: |
https://boris.unibe.ch/id/eprint/145690 |
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