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.

Bibliografiska uppgifter
Huvudupphovsman: Mash, R
Materialtyp: Journal article
Publicerad: 1999