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.
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| Format: | Working paper |
| Language: | English |
| Published: |
CSAE (University of Oxford)
1997
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| _version_ | 1826300559548743680 |
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| author | Mash, R |
| author_facet | Mash, R |
| author_sort | Mash, R |
| collection | OXFORD |
| description | 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. |
| first_indexed | 2024-03-07T05:19:01Z |
| format | Working paper |
| id | oxford-uuid:de3b34c9-2ce4-44b8-a188-22e33f882125 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T05:19:01Z |
| publishDate | 1997 |
| publisher | CSAE (University of Oxford) |
| record_format | dspace |
| spelling | oxford-uuid:de3b34c9-2ce4-44b8-a188-22e33f8821252022-03-27T09:30:44ZIrreversible Investment and the Expected Capital Stock with Stationary Uncertainty.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:de3b34c9-2ce4-44b8-a188-22e33f882125EnglishDepartment of Economics - ePrintsCSAE (University of Oxford)1997Mash, RThe 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. |
| spellingShingle | Mash, R Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty. |
| title | Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty. |
| title_full | Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty. |
| title_fullStr | Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty. |
| title_full_unstemmed | Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty. |
| title_short | Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty. |
| title_sort | irreversible investment and the expected capital stock with stationary uncertainty |
| work_keys_str_mv | AT mashr irreversibleinvestmentandtheexpectedcapitalstockwithstationaryuncertainty |