Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty.

The paper analyses irreversible investment under stationary uncertainty in a competitive sector. It is shown that while future uncertainty reduces the desired capital stock, over time the expected actual capital stock is higher under uncertainty with irreversibility.

書誌詳細
第一著者: Mash, R
フォーマット: Journal article
出版事項: 1999

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