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Hedging under Output Price Randomness

Jack Meyer and Lindon J. Robison
American Journal of Agricultural Economics
Vol. 70, No. 2 (May, 1988), pp. 268-272
Stable URL: http://www.jstor.org/stable/1242066
Page Count: 5
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Hedging under Output Price Randomness
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Abstract

An expected utility analysis of a frequently studied hedging model is carried out using mean-standard deviation modeling techniques. This is possible because the hedging model satisfies a location and scale condition. As a result, one can simplify the proofs of, and provide more intuition for, results concerning hedging developed using only expected utility techniques.

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