Journal article icon

Journal article

Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty.

Abstract:
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.

Actions


Authors


Journal:
Economics Letters More from this journal
Volume:
64
Publication date:
1999-01-01
ISSN:
0165-1765
UUID:
uuid:73bca808-a2b4-4569-9edd-94b638a95e51
Local pid:
oai:economics.ouls.ox.ac.uk:14166
Deposit date:
2011-08-16

Terms of use


Views and Downloads






If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP