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The Production of Goods in Excess of Demand: A Generalization of Self-Protection

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  • Carole Haritchabalet

    (GREMAQ—UMR CNRS 5604, Université de Toulouse 1, Manufacture des Tabacs 21, Allée de Brienne, 31000 Toulouse, France)

Abstract

We consider a risk-averse firm producing a limited number of goods that can be defective. The firm must determine its level of production before knowing which goods will be defective. Such is the case, for example, for a producer of telecommunications satellites. The problem under scrutiny can be interpreted as a generalization of self-protection for more than two states of nature. In our model, the firm determines jointly its level of production and its demand for insurance. It is shown that, under reasonable assumptions, the two strategies are complements. The Geneva Papers on Risk and Insurance Theory (2000) 25, 51–63. doi:10.1023/A:1008797407679

Suggested Citation

  • Carole Haritchabalet, 2000. "The Production of Goods in Excess of Demand: A Generalization of Self-Protection," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 25(1), pages 51-63, June.
    • Handle: RePEc:pal:genrir:v:25:y:2000:i:1:p:51-63
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    Cited by:

    1. Hau, Arthur, 2010. "Comparative statics of changes in risk on monotonically and partially responsive kinked payoffs," European Journal of Operational Research, Elsevier, vol. 201(1), pages 267-276, February.

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