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題名:投入價格不確定下競爭廠商的風險沖銷
書刊名:商學學報. 空大
作者:楊義隆
作者(外文):Yang, Yih-ling
出版日期:1997
卷期:5
頁次:頁205-225
主題關鍵詞:投入價格廠商風險沖銷
原始連結:連回原系統網址new window
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  • 被引用次數被引用次數:期刊(1) 博士論文(0) 專書(0) 專書論文(0)
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  • 共同引用共同引用:5
  • 點閱點閱:19
     雖然現實社會裡,廠商經常要面對投入價何的不確定與波動,不過廠前仍然可以在期貨市場裡,簽購遠期契約,事前以確定的價格來預購所需的投入,以規避風險。本文之目的就在探討在要素投入價格不確定,但廠商得在期貨市場以遠期契約預購投入的情況下,廠商的風險沖銷行為及其對生產決策或投入決策的影響。 本文發現,只要期貨市場存在,廠商得以遠期契約預購所需的投入,則不管將來投入的市場價格會如何波動,廠商都會根據「邊際產值等於預購的契約價格」之原則,來決定投入的使用量及產品的產量。換言之,廠商對風險怯避的程度及投入價格波動的幅度,都不會的影響廠商的實質投入以及產量。但是這些因素仍然會影響廠商對投入的預購量。又儘管目前利用遠期契約預購投入的契約價格,可能稍田於未來在現貨市場購買的(隨機)價格之期望值,但是為了規避風險,只要二者差距不大,則廠商業常仍會將其生產所需的部分投入(但不是全部)以遠期契約購入,而且風險怯避程度愈大,其所預購的數量也會愈大。又若其絕對風險怯避遞減,則固定成本增加或邊際風險提高,都會使得廠商增加其預購量。
期刊論文
1.McKinnon, R. I.(1967)。Futures Markets, Buffer Stocks, and Income Stability for Primary Producers。The Journal of Political Economy,75,844-861。  new window
2.楊義隆(19960600)。投入價格不確定與廠商理論:幾何圖形分析法。國立空中大學商學學報,4,335-359。new window  延伸查詢new window
3.Stewart, M. B.(1978)。Factor Price Uncertainty with Variable Proportions。American Economic Review,68(3),468-473。  new window
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9.Hartman, R.(1975)。Competitive Firm and the Theory of Input Demand under Price Uncertainty: Comment。Journal of Political Economy,83(6),1289-1290。  new window
10.Hartman, R.(1976)。Factor Demand with Output Price Uncertainty。American Economic Review,66,657-681。  new window
11.Holthausen, D. M.(1976)。Input Choices and Uncertain Demand。American Economic Review,66(1),94-103。  new window
12.Hymans, S. H.(1966)。The Price-Taker: Uncertainty, Utility, and the Supply Function。International Economic Review,7(3),346-356。  new window
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17.Blair, R. D.(1974)。Random Input Price and the Theory of the Firm。Economic Inquiry,12(2),214-226。  new window
18.Batra, R. N.、Ullah, A.(1974)。Competitive Firm and the Theory of Input Demand under Price Uncertainty。Journal of Political Economy,82(3),537-548。  new window
19.Bernoulli, D.(1954)。Exposition of a New Theory of the Measurement of Risk。Econometrica,22(1),23-36。  new window
20.Gardner, B. L.(197602)。Future Price in Supply Analysis。Amer. J. Agr. Econ.,58,81-84。  new window
21.Gray, R. W.(196106)。The Search for a Risk Premium。J. Polit. Econ.,69,250-260。  new window
22.Ishii, Y.(197709)。On the Theory of the Competitive Firm under Pice Uncertainty: Note。Amer. Econ, Rev.,67,768-769。  new window
23.McCalll, J. J.(1971)。Probabilistic Microeconomics。Bell Journal of Economics and Management Science,2(2),403-433。  new window
24.Rothschild, M.、Stiglitz, J.(1970)。Increasing Risk: A Defenction。Journal of Economic Theory,2(3),225-243。  new window
25.Tomek, W. G.、Gray, R. W.(197008)。Temporal Relationships Among Prices on Commodity Futures Market: Their Allocative and Stabilizing Roles。Amer. J. Agr. Econ.,52,372-380。  new window
26.Leland, H. E.(1972)。Theory of the Firm Facing Uncertain Demand。American Economic Review,62(3),278-291。  new window
27.Sandmo, Agnar(1971)。On the Theory of the Competitive Firm Under Price Uncertainty。American Economic Review,61(1),65-73。  new window
28.Holthausen, D. M.(197912)。Hedging and the Competitive Firm under Price Uncertainty。Amer Econ. Rev.,69,989-995。  new window
29.Ward, Ronald W.、Fletcher, Lehman B.(197102)。From Hedging to Pure Speculation: A Micro Model of Optimal Futures and Cash Market Positions。American Journal of Agricultural Economics,53,77-78。  new window
30.楊義隆(1994)。生產不確定下廠商之最適生產決策。國立空中大學商學學報,2,1-30。new window  延伸查詢new window
31.Pratt, John W.(1964)。Risk Aversion in the Small and in the Large。Econometrica,32(1/2),122-136。  new window
32.Johnson, Leland L.(1960)。The Theory of Hedging and Speculation in Commodity Futures。The Review of Economic Studies,27(3),139-151。  new window
圖書
1.楊義隆(1986)。生產成本不確定情況下的廠商理論。台北:巨浪書局。  延伸查詢new window
2.Arrow, Kenneth J.(1965)。Aspects of the Theory of Risk Bearing。Helsinki:Academic Bookstore。  new window
3.Fellner, W.(1965)。Probability and Profit。Homewood, Illinois:Richard D. Irwin, Inc。  new window
4.Horowitz, Ira(1970)。Decision-Making and Theory of the Firm。New York:Holt, Rinehart, and Winston。  new window
5.von Neumann, J.、Morgenstern, O.(1944)。Theory of Game and Economic Behavior。Princeton:Princeton University Press。  new window
6.陳忠慶(1994)。期貨投資手冊。台北:遠流出版公司。  延伸查詢new window
7.郭恆慶(1989)。金融期貨。台北:台北國際商學出版社。  延伸查詢new window
8.朱敬一(1990)。個體經濟分析。新陸書局。  延伸查詢new window
 
 
 
 
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