[MICROECONOMICS UNDER UNCERTAINTY: Franco Varetto<\/em> Abstract:<\/strong> The introduction of risk in the microeconomic theory has some important effects on the behavior of the competitive firms: the level of optimal production under condition of risk is lower than under certainty; the optimal mix of productive input shifts to ones with less uncertainty; vertical integration, diversification and hedging are as many responses for optimal management of risks. The conclusions of the microeconomics under uncertainty depend also from the way the risk is modeled: additive risk is easier to handle than multiplicative risk, and conclusions from that are closer to microeconomics under certainty.<\/p>\n Keywords:<\/strong> Microeconomics, uncertainty, risk, expected utility, hedging<\/p>\n JEL Codes:<\/strong> D01, D21, D24, D41, D81<\/p>\n","protected":false},"parent":0,"menu_order":0,"template":"","categoria-pubblicazioni":[40],"class_list":["post-2702","pubblicazione","type-pubblicazione","status-publish","hentry","categoria-pubblicazioni-working-paper"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/pubblicazione\/2702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/pubblicazione"}],"about":[{"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/types\/pubblicazione"}],"version-history":[{"count":1,"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/pubblicazione\/2702\/revisions"}],"predecessor-version":[{"id":3621,"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/pubblicazione\/2702\/revisions\/3621"}],"wp:attachment":[{"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/media?parent=2702"}],"wp:term":[{"taxonomy":"categoria-pubblicazioni","embeddable":true,"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/categoria-pubblicazioni?post=2702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nA FRAMEWORK FOR THE ANALYSIS OF BUSINESS RISKS]<\/em><\/p>\n
\nNational Research Council of Italy<\/em>
\nResearch Institute on Sustainable Economic Growth<\/em>
\n CNR-IRCrES, Collegio Carlo Alberto – via Real Collegio, n. 30 <\/em>
\n 10024 Moncalieri (Torino) \u2013 ITALY
\n<\/em>
\nMail: francoww@tin.it<\/a><\/p>\n