Input hedging: generalizations

The purpose of this paper is to generalize input‐hedging models.

Using a general utility function and general probability distributions, the paper extends the Paroush‐Wolf and Alghalith theoretical models by including two risky (hedged) inputs.

The paper finds that the inclusion of two risky inputs affects the previous theoretical results.

The paper introduces new theoretical and technical contributions. Also, it is intended to be a foundation for future empirical and theoretical studies.