@article{a011056000924f64b15d3a6ed2d4877e,
title = "Comparaci{\'o}n del comportamiento de producci{\'o}n de empresas aversas al arrepentimiento y aversas al riesgo",
abstract = "Previous studies focused on the comparison of the optimal output levels of regret-averse firms under uncertainty and firms under certainty. This paper extends the theory by further investigating the effects of regret-aversion on production. We compare the optimal output levels of regret-averse firms with purely risk-averse firms under uncertainty and firms under certainty. We first show that the linear-regret firms will surely produce more than their purely risk-averse counterparts and surely produce less than firms under certainty. Thereafter, we give sufficient conditions to ensure the regret-averse firms to produce more than the purely risk-averse counterparts and study the comparative statics of the optimal production. We also develop properties of regret-aversion on production by using a binary model. The findings in this paper are useful for production managers in their decisions on the production.",
author = "Xu Guo and Wong, {Wing Keung}",
note = "Funding Information: The authors are grateful to the Editor, R{\'o}mulo Chumacero, and three anonymous referees for constructive comments and suggestions that led to a significant improvement of an early manuscript. The second author would like to thank Professors Robert B. Miller and Howard E. Thompson for their continuous guidance and encouragement. This research has been partially supported by National Natural Science Foundation of China (11701034, 11601227), Asia University, China Medical University Hospital, Hang Seng Management College, Lingnan University, the Research Grants Council (RGC) of Hong Kong (project numbers 12502814 and 12500915), and Ministry of Science and Technology (MOST, Project Numbers 106-2410-H-468-002 and 107-2410-H-468-002-MY3), Taiwan. This research was done when the second author was visiting Economic Growth Centre, School of Social Sciences, Nanyang Technological University. School of Statistics, Beijing Normal University, Beijing. [Corresponding author] Department of Finance, Fintech Center, and Big Data Research Center, Asia University. Department of Medical Research, China Medical University Hospital, Taiwan. Department of Economics and Finance, Hang Seng Management College. Department of Economics, Lingnan University. Email: wong@asia.edu.tw. Funding Information: *1 The authors are grateful to the Editor, R{\'o}mulo Chumacero, and three anonymous referees for constructive comments and suggestions that led to a significant improvement of an early manuscript. The second author would like to thank Professors Robert B. Miller and Howard E. Thompson for their continuous guidance and encouragement. This research has been partially supported by National Natural Science Foundation of China (11701034, 11601227), Asia University, China Medical University Hospital, Hang Seng Management College, Lingnan University, the Research Grants Council (RGC) of Hong Kong (project numbers 12502814 and 12500915), and Ministry of Science and Technology (MOST, Project Numbers 106-2410-H-468-002 and 107-2410-H-468-002-MY3), Taiwan. This research was done when the second author was visiting Economic Growth Centre, School of Social Sciences, Nanyang Technological University. Publisher Copyright: {\textcopyright} 2019, Universidad de Chile. All rights reserved.",
year = "2019",
month = dec,
doi = "10.4067/s0718-52862019000200157",
language = "Spanish",
volume = "46",
pages = "157--161",
journal = "Estudios de Economia",
issn = "0304-2758",
publisher = "Universidad de Chile",
number = "2",
}