@article{9d5b3620668a4b3e82744cb11c1d1bce,
title = "Optimal output for the regret-averse competitive firm under price uncertainty",
abstract = "We study the optimal output of a competitive firm under price uncertainty. Instead of assuming a risk-averse firm, we assume that the firm is regret-averse. We find that optimal output under uncertainty would be lower than under certainty. We also prove that optimal output could increase or decrease when the regret factor varies.",
keywords = "Competitive firm, Decision making, Optimal output, Regret aversion, Risk aversion",
author = "Mart{\'i}n Egozcue and Xu Guo and Wong, {Wing Keung}",
note = "Funding Information: The authors would like to thanks participants on 12th SAET Conference for their helpful comments to improve our paper. The third author would like to thank Professors Robert B. Miller and Howard E. Thompson for their continuous guidance and encouragement. This research is partially supported by grants from the Fundamental Research Funds for the Central Universities NO. NR2015001, Hong Kong Baptist University (FRG2/14-15/040, FRG2/14-15/106), and Research Grants Council of Hong Kong (12502814). Publisher copyright: Copyright {\textcopyright} 2015, Eurasia Business and Economics Society",
year = "2015",
month = dec,
doi = "10.1007/s40822-015-0030-9",
language = "English",
volume = "5",
pages = "279--295",
journal = "Eurasian Economic Review",
issn = "1309-422X",
publisher = "Springer International Publishing AG",
number = "2",
}