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.
| Päätekijä: | |
|---|---|
| Aineistotyyppi: | Journal article |
| Julkaistu: |
1999
|