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.
| 主要作者: | |
|---|---|
| 格式: | Journal article |
| 出版: |
1999
|